The meeting on Monday took place at the Miraflores Palace between President Nicolás Maduro, the international executive director of exploration and production of Repsol, José Carlos Vicente Bravo and the director of the Repsol Business Unit in Venezuela, Luis Antonio García Sánchez, among others.
In the last week, Nicolás Maduro’s government has held two meetings with members of Repsol’s board of directors. The first was held on the 14th of this month and the most recent was held on Monday, September 23.
The visits come amid diplomatic tensions between Spain and Venezuela, after opposition presidential candidate Edmundo González Urrutia requested political asylum in Spain. In addition, there are two Spaniards detained in Venezuela for whom the authorities of that country are asking for explanations.
The meeting on Monday took place at the Miraflores Palace between President Nicolás Maduro, Repsol’s international executive director of exploration and production, José Carlos Vicente Bravo, and the director of Repsol’s business unit in Venezuela, Luis Antonio García Sánchez.
Also present were the Executive Vice President and Minister of Petroleum, Delcy Rodríguez, and the President of Petróleos de Venezuela (PDVSA), Héctor Obregón.
According to official media, the purpose of this meeting was to “establish strategic alliances in the country’s energy cooperation.”
Maduro urged international investors to establish alliances in key sectors such as energy, gas and petrochemicals. He also said that the country’s oil production is expected to reach more than two million barrels per day by 2025.
Despite efforts to boost production over the past four years, the Venezuelan industry has yet to reach one million barrels of oil per day. The latest OPEC report indicates, according to official data, a production of 927,000 barrels of oil per day.
*Read also: Delcy Rodríguez meets with Repsol amid tensions between Venezuela and Spain
Repsol has four projects in Venezuela, including oil and gas production. In Petroquiriquire SA, Repsol has a 40% stake, while state-owned companies Corporación Venezolana de Petróleo SA (CVP) have a 56% stake and Pdvsa Social SA has a 4% stake. Its main activity is the production and sale of oil and gas in Venezuela.
Repsol also has a project natural gas with the Cardón IV Project, called the Perla Project, in the Gulf of Venezuela, where the Spanish company has the majority of the shares as permitted by the gaseous hydrocarbons law.
On September 14, Vice President Delcy Rodríguez gathered with the director of the business unit of the Spanish multinational Repsol, Luis Antonio García Sánchez. The official said that they discussed issues concerning “strategic alliances” and “energy cooperation.”
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