City renew hostilities with Barca at Etihad Stadium on Tuesday, having bowed out to the Spanish giants 4-1 on aggregate at the same stage of the tournament last season.
Manuel Pellegrini's City, however, head into the match on the back of two resounding league victories - a 4-1 win at Stoke City and a 5-0 drubbing of Newcastle United.
Barca suffered a shock 1-0 loss at home to Malaga in La Liga on Saturday but the Catalans still pose a significant threat with Lionel Messi, Neymar and Luis Suarez at Luis Enrique's disposal.
Kompany, though, said City's defenders have no reason to worry.
"The next game is a massive one now and it's one of those - if you have a good day it can be a special night," Kompany said.
"So we have to prepare and I think everyone is ready for it. We don't fear them. You don't go in at this level fearing strikers.
"We want to play against them. It's the fourth time in a year now. There's nothing new to worry us, it's a case of having the whole team at a very high level."
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