Aban Will Lose $ 1.3 Bn In Revenues, As Aban Pearl Sinks off Venezuela

Aban Offshore Gets Hit By A Political Maelstorm in Venezuela

Opposition charges Venezuela's PDVSA of paying excessive sums of money for a "Junk Heap", asks Government to renege on payment of $ 1.3 bn.

An offshore natural gas platform that sank off Venezuela encountered problems last year before being hired by the Venezuelan government, an official in nearby Trinidad and Tobago said Friday.

Lieutenant Kirk Jean-Baptiste, spokesman for the Trinidad and Tobago, confirmed that authorities received a distress call from the rig Aban Pearl platform Aug. 14 because it was tilting after one of its floating devices was damaged.

He said that by the time the Coast Guard arrived, those aboard the rig had been able to correct the problem.

The platform sank off Venezuela on Thursday after all 95 workers aboard safely evacuated. Venezuela authorities are investigating what led to the sinking.

Oil Minister Rafael Ramirez has said the platform was inspected in Trinidad and certified as being in optimal condition before it was moved to Venezuelan waters.

A group of Venezuelan opposition lawmakers led by Ismael Garcia have denounced what they call a deal by the state oil company Petroleos de Venezuela SA, or PDVSA, to lease a "junk heap."

Garcia called for an investigation and presented the attorney general with a copy of the contract Friday, saying the $1.3 billion that Venezuela agreed to pay to lease the rig was excessive.

"PDVSA has an obligation to clear up why such a bad deal was done," Garcia said. The opposition politician cited the past incident with the rig in Trinidad's waters.

There was no immediate comment from PDVSA on those accusations.

The Singapore-flagged platform, built in 1977, is owned by a subsidiary of the Indian company Aban Offshore.

Despite the sinking, Venezuela maintains its goal of starting commercial offshore gas production in 2012, said Eulogio Del Pino, PDVSA's vice president of exploration and production.

Ramirez said Thursday that PDVSA will soon obtain a replacement rig. He said workers on the lost rig avoided any leak by disconnecting a tube leading from the gas fields to the platform before it sank.