The international law firm specified in a statement that "it is advising PDVSA regarding potential oil contracts."
The company Petróleos de Venezuela S.A. (PDVSA) hired the international firm Greenberg Traurig to help speed up contract negotiations with various companies in the energy sector, before the deadline set by the Hydrocarbons Law.
According to Bloomberg, the international law firm confirmed its professional tie with PDVSA in an email statement.
"Greenberg Traurig is advising PDVSA regarding potential oil contracts and compliance with related legal and regulatory standards," said the firm.
Sources related to the topic commented that after the easing of sanctions by the US, PDVSA has faced obstacles in conducting contractual negotiations with potential partners.
Moreover, the Venezuelan energy company has prioritized large oil firms with greater financial capacity and influence.
Various international companies have signed memorandums of understanding with PDVSA to reactivate Venezuelan oil fields.
Now, the Venezuelan company is looking to close the deals before August to meet the deadline set by the reform of the Hydrocarbons Law approved earlier this year.
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