Venezuela reported on Friday that they have now taken the charge of Helmerich & Payne Inc. idle rigs. The plan to acquire the rigs was made a week ago by the Venezuela Government and they will soon use the rig for pumping oil.

The officials said that they will also take over the five drills at Chevron.

The preparation to control the rigs of Helmerich and Payne was started, as the quarrel between them and the oil Company PDVSA, started in lieu of some pending payments.

Though, the plan has received a lot of criticism, Venezuela said in its defense that they have taken this decision, since Helmerich turned down the Government’s proposal of negotiating the rates in the previous year.

The Government had said that time that it was very important for them to convince Helmerich to renegotiate the prices, as the constant fall in oil prices created many financial problems for PDVSA.

According to PDVSA, "Despite meetings with representatives and directors of H&P for nearly a year it wasn't possible to reach an agreement due to the inflexible position of the said Company”.

On the other hand, Helmerich said that they granted a huge amount of money to PDVSA for working in Oklahoma and they didn’t get back the money. Now, they will not work free of charge.