BP Receives US Permit to Extract Gas in Venezuela
British BP and its partner from Trinidad and Tobago, NGC, were able to obtain a license from the US authorities to work in Venezuela. The license was issued for 2 years to explore the Manakin-Cocuina gas asset, Reuters writes, citing the Trinidad Ministry of Energy.
It is specified that BP will operate on an offshore project with gas reserves of almost 1 trillion cubic feet (28.32 billion cubic meters), which stretches from Venezuela to Trinidad.
Recall that Washington refused to extend Venezuela’s general license for the free sale of oil, but the Americans continue to issue individual licenses to companies wishing to conduct oil and gas business in the Bolivarian Republic. BP, for its part, said that it was suspending negotiations with Caracas regarding gas deposits until it received OFAC license No. 44.
The gas permit for BP and NGC was the second one issued by the US for work in Venezuela. The first was the approval of Shell, which together with the same NGC will develop the Dragon gas field with subsequent export of blue fuel to Trinidad and Tobago.
