UPDATE 1-Venezuela hits Cerro Negro with $164 mln tax tab

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CARACAS, Sept 3 (Reuters) - Venezuela's Seniat tax authority on Monday said it hit the Cerro Negro Orinoco Belt heavy crude project, until recently partly owned by Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz), with a $164 million back tax bill.

Exxon Mobil abandoned its stake in the project in June after President Hugo Chavez ordered state oil company PDVSA to take a majority stake in the operation, and Venezuela is still negotiating compensation for the company's assets.

The Seniat statement said the tax bill was served to former Cerro Negro partners, including Exxon Mobil subsidiaries Operadora Cerro Negro SA and Mobil Cerro Negro LTD.

The agency said it objected to Cerro Negro's use of a Venezuela-U.S. double-taxation treaty in its income tax filings for operations between 2002 and 2006.

State oil company PDVSA took over Exxon Mobil's Cerro Negro assets in May.

The statement also mentions "Veba Oil Gas Cerro Negro," whose assets are now held by BP (BP.L: Quote, Profile, Research, Stock Buzz), as one of the partners reviewed by the tax probe.

BP has agreed to stay on as a minority partner in Cerro Negro, which the government recently renamed Petro Monagas.

On Friday the Seniat Petrozuata, a nationalized oil project that previously included investment by ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz), will pay $172 million in back taxes.