Venezuela slates second oil field revival round

This paper reports that Venezuela will accept bids under a second round next year from private foreign and domestic companies for production contracts to operate marginal active as well as inactive oil fields. The first such round came earlier this year, involving about 55 other marginal, inactive fields. It resulted in two contractors signed with domestic and foreign companies. It represented the first time since nationalization of the petroleum industry in Venezuela in 1976 that private companies were allowed to produce oil in the country. A public bid tender was expected at presstime last week