AN authorized the extension of the geographical area of the Petroquiriquire Joint Venture, S.A

Published at: 16/04/2024 04:44 PM

The National Assembly (AN) authorized the extension of the geographical area of the Petroquiriquire Joint Venture, S.A., in accordance with the provisions of article 187 number 9 of the Constitution of the Bolivarian Republic of Venezuela, in accordance with article 34, paragraph 2 of the Organic Law on Hydrocarbons.

“This company has been producing an average of 24 thousand barrels of oil per day and with this authorization it will have an investment of close to 400 million dollars. In the 2024-2048 development plan, we could be reaching more than 50,000 barrels of daily crude oil, especially semi-light crude oil,” said Deputy Rodolfo Sanz.

In this regard, he said the expansion of the polygonal area by about 377.17 square kilometers for the allocation of new oil fields in the western area of La Ceiba and in Tomocoro.

He recalled that in this company the Venezuelan State has a type A shareholding percentage of 60% while 40% of it is owned by REPSON.

“Venezuela is truly a reliable producer of crude oil for countries because it is a country with political stability in the region and that is thanks to the commitment to guarantee peace on the part of the president of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros,” he said.

Mazo News Team