CARACAS Feb 24 Venezuelan state oil company
PDVSA said on Friday it expects an arbitration panel in Paris to
reach a decision on its dispute with PetroSaudi Oil Services Ltd
over an offshore drilling rig in the final months of this year.
PDVSA is seeking damages for what it says was "poor
performance" by the rig which worked in the Caribbean waters off
Venezuela's eastern Sucre state.
"The Arbitral Tribunal, which has heard the reasons for the
contractual disputes, is expected to issue a Final Award during
the fourth quarter of this year," the company said in a
"PDVSA will tirelessly pursue all means to defend its
assets, which belong to the Venezuelan people," it added.
PetroSaudi International, the parent company of PetroSaudi
Oil Services Ltd, did not immediately respond to a request for
(Reporting by Alexandra Ulmer Editing by W Simon)