Venezuela and Nigeria signed two agreements to explore two gas fields in the Gulf of Venezuela in order to certify them
The administration of Nicolás Maduro and the company Veneoranto Petroleum LTD, CA of Nigeria signed exploratory agreements in two gas fields in the country, the Boca Serpiente and Barracuda blocks in the Gulf of Venezuela, to certify the amount of gas available that will allow strengthening the position of the nation as one of the exporters of the hydrocarbon.
This was stated by the Minister of Petroleum, Pedro Tellechea, who indicated that the sum of the two deposits provides the availability of 30 million cubic feet of gas, which could increase Venezuela’s capacity to exploit said fuel by 30 or 40%.
He said that investors continue to come to the country because they trust the industry and President Nicolás Maduro in order to lead the nation to economic growth.
For his part, Maduro stressed the importance of accelerating the investment process to produce gas from the Deltana Platform and predicted that gas will soon be exported to Africa.
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“I tell investors, don’t let yourself be disturbed, in Venezuela there is a great energy development underway, the energy transition has begun here, and there are very good announcements for the next few weeks regarding the energy transition from the country to the world. We are the jewel in the crown, due to material wealth, and we have the largest oil reserve in the world certified, we are certifying 20 percent more, thanks to new technologies,” he said.
He said that Venezuela is a “reliable partner” for investment because it has a “solid and stable legal framework.”
The governments of Venezuela and Trinidad and Tobago signed last Wednesday July 24, 2024 a series of licenses for the exploration and exploitation of hydrocarbons in the Cocuina field, located on the delta platform.
The agreements signed with the state-owned Petróleos de Venezuela will allow the British company BP and the National Gas Company of Trinidad and Tobago (NGC) to “carry out exploration activities” and “exploitation” of natural gas deposits for the next 20 years.
This was reported during the official ceremony at Miraflores Palace, headed by President Nicolás Maduro. The area to be exploited (Cocuina-Manakin field) has reserves of one billion cubic feet of natural gas.
Trinidad and Tobago has a 66% stake in these joint deposits. The remaining 34% is held by Venezuela.
“We are ready and willing to negotiate with whoever needs to be negotiated for agreements” for “the development of oil and gas resources,” said Maduro, who is seeking a second re-election this Sunday, the 28th, and who has promoted himself as the “only one” who can guarantee this type of agreement.
With information from VTV
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