Printer Friendly

HARKEN ANNOUNCES VENEZUELAN BUSINESS OPPORTUNITY

 HARKEN ANNOUNCES VENEZUELAN BUSINESS OPPORTUNITY
 DALLAS, July 8 /PRNewswire/ -- Harken Energy Corporation ("Harken")


(AMEX: HEC) of Dallas today announced that its wholly-owned subsidiary, Harken International, Ltd. ("HIL"), has entered into an agreement to jointly operate a business venture in Venezuela with Organizacion de Cisneros ("ODC"), one of the largest private sector Venezuelan business conglomerates.
 With approximately 20,000 employees worldwide, ODC's main offices are located in Caracas, Venezuela and Coral Gables, Fla. with branch offices located in New York, Tokyo and Madrid.
 ODC's operations span North and Latin America, Europe and the Far East, and involve numerous industries, including mass communication, consumer product manufacturing and distribution, computers and telecommunications, aluminum production, mining, oil and petrochemicals, and recently real estate and investment banking. ODC is also affiliated with Pepsi Cola of Venezuela.
 Under the agreement, Harken and ODC intend to explore, develop and/or acquire various business opportunities in the Venezuelan petroleum industry, including oilfield service and oil and gas exploration and production projects. Such activities will be pursued jointly by HIL and ODC through a newly-formed Venezuelan enterprise.
 Harken's chairman Mikel D. Faulkner said, "The agreement with ODC represents a significant step forward in our efforts to expand Harken's presence in the international oil and gas industry. We are optimistic that the joint marketing efforts called for under the agreement will lead to a long-term partnership with ODC in the Venezuelan petroleum industry."
 Harken Energy Corporation explores for, develops and produces oil and gas reserves domestically and internationally. Harken also provides oilfield services.
 -0- 7/8/92
 /CONTACT: Dale Brooks of Harken Energy Corporation, 817-695-4900/
 (HEC) CO: Harken Energy Corporation ST: Texas IN: OIL SU:


LR -- NY050 -- 7433 07/08/92 13:03 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 8, 1992
Words:284
Previous Article:UNITED AIRLINES ORDERS AIRBUS A320 AIRCRAFT
Next Article:SISTERS OF CHARITY SIGNS MASTER AGREEMENT WITH HBO & COMPANY
Topics:


Related Articles
HARKEN TO WRITE DOWN CERTAIN DRILLING ASSETS DURING FOURTH QUARTER
HARKEN ANNOUNCES EXPIRATION OF REGISTRATION PERIOD
HARKEN ANNOUNCES SECOND QUARTER RESULTS
HARKEN ANNOUNCES COLOMBIAN EXPLORATION OPPORTUNITY
HARKEN ANNOUNCES AGREEMENT TO ACQUIRE CHUSKA RESOURCES CORPORATION
CHUSKA TO MERGE WITH HARKEN
HARKEN ANNOUNCES THIRD QUARTER RESULTS
HARKEN ANNOUNCES FIRST QUARTER RESULTS
HARKEN ANNOUNCES SELECTION OF NEW BOARD MEMBER
Harken Announces New Venture to Capitalize on Energy Deregulation in Eastern Europe.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters