Royal Dutch Shell Plc will provide some $400 million in
financing to boost oil output at Venezuela's Petroregional del Lago, a joint
venture with state-run PDVSA, the South American country announced on Tuesday. Petroregional,
which operates the Urdaneta oilfield in Venezuela's western Maracaibo Lake,
produces between 30,000 barrels per day and 35,000 bpd, according to Shell's
website. Shell holds a 40 percent stake in the venture. The agreement aims to
increase total production to 344 million barrels between the 2017 and 2035
period, PDVSA said in a statement, or an average of around 52,400 bpd. More… 
Wednesday, December 7, 2016
Venezuela says Shell to provide $400 million financing for oil venture
Royal Dutch Shell Plc will provide some $400 million in
financing to boost oil output at Venezuela's Petroregional del Lago, a joint
venture with state-run PDVSA, the South American country announced on Tuesday. Petroregional,
which operates the Urdaneta oilfield in Venezuela's western Maracaibo Lake,
produces between 30,000 barrels per day and 35,000 bpd, according to Shell's
website. Shell holds a 40 percent stake in the venture. The agreement aims to
increase total production to 344 million barrels between the 2017 and 2035
period, PDVSA said in a statement, or an average of around 52,400 bpd. More… 
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment