Venezuela releases Gulmar vessels

Sharjah, UAE, headquartered Gulmar Offshore Middle East LLC reports that three diving support vessels have been released by Petroleos de Venezuela S.A (PDVSA) and are now sailing to the U.S. and Panama.

The vessels' release by PDVSA comes after five months of negotiations resulted in the Venezuelan authorities removing these foreign flagged vessels from the list of assets that were to be potentially nationalized by Venezuela's "Organic Law" of May 7, 2009.

The vessels (Gulmar Eagle, Adams Arrow and Boa Rover) had been working in Lake Maracaibo onmaintenance of the oil and gas pipelines

Gulmar Offshore says it "continues to discuss with PDVSA compensation for the time the vessels were held in Lake Maracaibo and future possibilities for cooperation."