On Monday, April 13, Petróleos de Venezuela (PDVSA) and the U.S. company Chevron signed an agreement to boost crude oil production in the Orinoco Belt. The meeting was chaired by acting president Delcy Rodríguez.

According to Rodríguez, “this agreement will allow us to make significant progress in production and ensure that the revenue generated from that production goes directly to the benefit of the Venezuelan people.”

Among the objectives of the agreement, she highlighted the exchange of assets between a gas field and the Ayacucho 8 oil block, which will be incorporated into the production of the Petro Piar joint venture. “This block, located in the Orinoco Oil Belt, is considered strategic due to its extra-heavy crude oil reserves.”

During the meeting, a resolution was also approved to delimit and grant exploitation rights in the Ayacucho 8 block to Petropiar, as part of the joint venture scheme operating in the country.

M.Pino

Source: spanish.xinhuanet

(Reference image source:  WORKSITE Ltd. on Unsplash)

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