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Exxon seeks oil-project value talks with Venezuela

Tue Feb 12, 2008 12:34pm EST

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HOUSTON, Feb 12 (Reuters) - Exxon Mobil Corp (XOM.N) is interested in "substantive" discussions with the Venezuelan government over the value of the extra heavy oil project taken over last year as part of the OPEC nation's nationalization drive, a company official said on Tuesday.

"We do remain interested in getting into substantive conversations with the Venezuelan government and with PDVSA around the fair market value of the assets that have been expropriated," said Mark Albers, senior vice president at Exxon Mobil at the CERA week energy conference.

Exxon, the largest U.S. company, has won temporary court rulings to freeze up to $12 billion of Venezuela's global assets in a fight over the level of payment for the project. (Reporting by Chris Baltimore and Mike Erman)



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