Foreign firms expected Chavez moves: Statoil

LONDON (Reuters) - Venezuela's drive to gain more control of its oil and gas resources had not caught foreign firms unawares, and was consistent with its long-held policies, the head of Norway's Statoil (STL.OL: Quote, Profile, Research, Stock Buzz) said on Wednesday.

"It is more or less what they said they would implement back in 2000 and 2001, so I think there is more logic to this than we might understand from reading the international press," Statoil Chief Executive Helge Lund told a Reuters Energy Summit.

Statoil itself faces back tax claims, big tax hikes and the possible loss of stakes in oilfields in Venezuela.

President Hugo Chavez's government has sought to exert more control over his country's hydrocarbon resources and to extract more money from foreign oil companies.

Lund said it was logical that when oil prices rose as sharply as they have in the past two years, that host nations seek better deals from foreign partners.

He added that in Venezuela's case, its moves had been expected by oil firms.

Lund said he still hoped to proceed with a second stage of the Venezuela Sincor heavy crude project, which has been stalled over talks about a $1 billion back tax claim and the future fiscal regime, but would not comment on the status of negotiations.

France's Total (TOTF.PA: Quote, Profile, Research, Stock Buzz) leads the Sincor project.

Lund added that, despite the uncertainty surrounding Venezuela's hydrocarbons industry, Statoil planned to continue exploring for gas offshore and, if successful, may participate in a proposed liquefied natural gas project.