베네수엘라는 세계 주요 석유수출국 가운데 하나이며, 최근 오리노코 벨트를 중심으로 초중질유 개발을 적극 추진하고 있다. 따라서 우리 기업들이 원유․가스 탐사개발 사업은 물론, 관련 설비 및 인프라 구축 사업 등에 진출할 기회가 마련되고 있다. 그런데 베네수엘라의 원유․가스 등 에너지 자원은 원칙적으로 국가의 소유이며, 국가는 이에 대한 탐사개발, 정유, 제품 생산 등에 대한 권리를 소유하고 있다. 베네수엘라는 원유․가스 탐사개발에 관하여 국제석유회사 등에 대하여 합작투자계약을 체결하고 합작투자회사를 설립하여 참여하도록 하고 있다. 결국 베네수엘라의 원유․가스 탐사개발 사업에 진출하고자 하는 우리 기업들은 베네수엘라 정부와 합작투자계약을 체결하여야 한다. 한편 베네수엘라 정부는 공공정책 규정에 따라, 원유․가스 탐사개발 관련 권리에 대하여 공공수용을 실행할 수 있음은 물론 강제적 준거법 및 관할권 조항을 계약에 편입시킬수도 있다. 따라서 원유․가스 탐사개발에 참여하고자 하는 우리 기업들은 베네수엘라 정부의 일방적 계약변경이나 세금 증대 등의 위험에 직면할 수 있다. 그러므로 우리 기업들은 이러한 위험에 대응하기 위해 전략적 접근 방법을 모색하고, 보다 유리한 계약설계에 고심하여야 한다. 우리 기업들은 베네수엘라 정부와의 계약에 있어 정부 위험에 대응하기 위해 안정화 조항, 재협상 및 변경 조항, 중재 조항 등의 설계를 모색하여야 한다. 아울러 베네수엘라 정부가 가입한 양자투자협정은 물론 베네수엘라 정부가 법률로 규정하고 있는 기존의 합작투자계약 규정에 대하여도 면밀히 살펴보아야 한다. 또한 합작투자회사를 통한 탐사개발 사업의 운영에 있어, 우리 기업들은 비운영자로서의 권리를 보호하는 방안을 공동운영계약에 설계하여야 한다. 그러나 우리 기업들이 베네수엘라 정부와의 합작투자계약을 체결함에 있어 가장 유념하여야 할 사항은 이 계약이 장기간의 고위험에 노출되어 있으므로 베네수엘라 정부와 지속적인 협력 관계를 유지하여야 한다는 것이다.
Venezuela is the one of the member countries of OPEC, even it is located in South America. It ranked the 11th oil and gas production of volume and 8th export volume in the world in 2011. After developing oil and gas in Venezuela in 1917, International Oil Companies(IOCs) had made a concession with the Venezuela government and they just paid royalties. However oil price increased sharply in 1970s, Venezuela government made a decision to nationalize whole oil and gas industry areas, such as exploration, exploitation, development, production, distribution, refinery, export and domestic sales. Venezuela government established national oil company, PDVAS at that time and confer the exclusive rights to perform such activities. When oil and gas price decreased in 1990s, the government changed its policy to open their oil and gas industry to IOCs. Following this policy, PDVAS had taken 14 operation agreements with IOCs from 1992 to 1993. However after Chavez took regime in 1998, the government has turn around its opening policy to re-nationalized oil and gas industry. But under the Chavez administration, oil and gas production volume has been declined in Venezuela. Therefore the government has been looking for another policies to attract IOCs’taking parts in oil and gas exploration and production(E&P) activities. Under the Venezuela Constitution and Hydrocarbon Law, the State took the ownership of oil and gas under the Venezuela territories. The State of Venezuela has whole rights on oil and gas exploration, exploitation, development, production, distribution, refinery, export and domestic sales. And the Law described these activities should be under Public Policy which should be taken or nationalized by State, even if the State permitted these activities to private companies or IOCs. Recently the State, Venezuela government, has taken oil and gas E&P activities with private companies or IOCs, by Joint Venture Agreements(JVs) That is to say, the PDVAS, a national oil company of Venezuela, has established CVP and the CVP has taken Joint Venture Agreements with private companies or IOCs. Through the JVs Korean oil and gas companies may take parts in oil and gas E&P activities in Venezuela. However, the State, Venezuela government, may change their policies or legislations, especially changing tax rates, for its advantages under the Public Policy rule. The government may also want to control the JVs and operation of the oil and gas E&P projects. These may unpredictably disturb the interests of the IOCs or Korean companies. IOCs and Korean companies shall design and negotiate to insert stabilization clause, renegotiation and adaption clause, applicable law clause, and arbitration clause and waiver of sovereign immunity. They shall also carefully design Joint Operating Agreement and negotiate with CVPs to protect their interests. They shall also design and negotiate more qualified majority shareholder voting items, urge for CVP moredetailed information sharing on the E&P projects. They shall design to request for CVP reports related to the projects and liabilities arousing from CVP’s parts. They shall also design the agreement for training or taking parts of their staff members in the projects,and diverse appropriate settlement process, especially international arbitrations. However the most important thing in the oil and gas E&P projects is the sustainability, therefore IOCs and Korean companies shall bear in mind to make good relation with Venezuela government. Based on this concept, they shall design and negotiate with the government on the oil and gas E&P projects.