VENEZUELA LISTS 2ND ROUND MARGINAL FIELD WINNING BIDS

Venezuela has awarded new production contracts to nine groups or companies to revive marginal oil fields. Alirio Parra, Venezuela's Minister of Energy and Mines, said investment plans submitted by the successful bidders call for outlays of $860 million through 1996. That will cover production infrastructure, new drilling, and some exploration. State petroleum company Petroleos de Venezuela SA estimates proved reserves in the nine blocks at 1.2 billion bbl of light/medium crude and

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