Shell and Chevron are close to concluding a major deal to produce Venezuelan oil
Five informed sources told the agency "Reuters"On Wednesday, the two giant oil companies "Chevron" and"Shell" They are close to concluding the first Major deals for Venezuelan oil production, since the United States ousted former Venezuelan President Nicolas Maduro last January.
These deals allow the two companies to increase production in desirable oil areas in the South American country, and are the largest step yet towards what US President Donald Trump described as a $100 billion investment to rebuild The Venezuelan oil sector after decades of mismanagement and lack of investment during the era of Maduro and his predecessor, Hugo Chavez.
In late January, the Venezuelan National Assembly approved a comprehensive reform of the country’s main oil law, and this law now gives foreign companies independence in operating, exporting and selling Venezuelan oil, even if they are a minority partner in the state oil company PDVSA.
This deal will give the company "Chevron" Production rights from the region "Ayacucho 8" Located south of the Petropia project area, according to sources "Reuters"It is a large area with proven oil resources. This transaction will enable "Chevron" To achieve a significant increase in its production and export of heavy oil.
In a related context, Shell signed preliminary agreements Oil and Gas with Venezuela last week, during the visit of US Secretary of the Interior Doug Burgum to Caracas, and the Venezuelan government did not announce the details of these agreements and the fields covered by them.
And I learned "Reuters" From a brief formal document of agreements, that the company "Shell" It aims to develop the Carito and Berital fields in the northern Monagas region in eastern Venezuela.
These areas are among the few areas in the country capable of producing light and medium crude oil and natural gas, which are valuable materials for oil companies that need to mix them with oil to facilitate the export of heavy Venezuelan oil.
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