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Venezuela Contacting Foreign Oil Firms Over Offshore Gas: Reuters

NATURAL GAS

Venezuela has begun contacting energy firms over an idled offshore gas project to begin new operations according to Reuters sources. The project is near Guyana’s border and is reignited due to other land based border claim disputes.

  • Venezuelan President Nicolas Maduro wants PDVSA along with BP, Chevron and Shell to revive the 8tcf gas project.
  • The reserves have not been developed due to insufficient capital, sanctions and complications over a sharing effort with Trinidad and Tobago.
  • "They are talking about working at blocks 2 and 4, which are the most advanced ones," one of the Reuters sources said.

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