PDVSA and the French company Maurel & Prom will jointly produce oil and gas in Lake Maracaibo, according to an agreement signed by both companies.

The agreement comes after the temporary lifting of several sanctions by the United States, the country’s oil company reported.

Likewise, it establishes the reactivation of the Petroregional del Lago mixed company, in the Urdaneta field in the state of Zulia, according to a press release from the state company.

The Venezuelan Minister of Petroleum, Rafael Tellechea, explained that this is an “extremely important” agreement for “increasing production and to continue promoting the development of the state oil company, for the benefit of the growth of the national economy.”

In addition, the president of PDVSA also announced that a gas flaring project in the north of the state of Monagas is “almost ready”, which includes alliances with the Spanish company Repsol and the Italian company Eni, the “next” companies with which the state company, he assured, is going to sign an agreement.

Hoy firmamos un acuerdo trasversal entre PDVSA y la empresa Maurel & Prom para incrementar la producción petrolera y gasífera en el Lago de Maracaibo, contribuyendo a potenciar las capacidades de nuestra industria en beneficio de la recuperación integral de la economía nacional. pic.twitter.com/OuqkyCyCXW

— Rafael Tellechea (@TellecheaRuiz) November 8, 2023

Taken from Doble Llave

(Referential image source: @PDVSA, social network)

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La entrada PDVSA and Maurel & Prom sign agreement to produce oil and gas apareció primero en Bitfinance.