Venezuela Plans to Grant Additional Exploration and Production Areas to the American Company Chevron and the Spanish Company Repsol
Venezuela plans to grant additional exploration and production areas to the American company Chevron and the Spanish company Repsol.
This was reported by the agency Bloomberg, citing informed sources.
According to the agency’s sources, Venezuelan officials intend to formalize the transfer of subsoil blocks to the energy companies as early as this week. Thus, expanding Chevron’s and Repsol’s access to Venezuelan oil will become one of the first decisions of the new government with the participation of the United States, which may be implemented in the coming days.
Chevron has been operating in Venezuela for nearly 100 years and for a long time remained one of the few American companies maintaining a limited presence in the country despite the sanctions regime. Repsol has been active in the region for more than 20 years and traditionally participates in joint projects with the Venezuelan state oil company.
