British oil company Shell bets on Venezuelan natural gas
Internet
Published at: 06/10/2026 08:04 PM
The British oil company Shell is betting on Venezuelan gas over heavy crude oil, as stated by the oil company's executive director, Wael Sawan.
Sawan said that the competitive advantage of the British oil company in Venezuela lies in natural gas, and not in heavy oil, the Venezuelan News Agency reported.
In this regard, Sewan assured that the company will continue to explore other opportunities in the country and stressed that the company is evaluating new areas of investment following the agreements signed with the Venezuelan Government last June, including participation in the Loran maritime gas field, which has 7 trillion cubic feet and whose fields are, for the most part, cross-border with Trinidad and Tobago.
The five agreements consolidated in June are the result of the technical-financial alliance established in March between Shell and Petrleos de Venezuela (PDVSA) for the comprehensive development of the Punta de Mata Division, in the state of Monagas.
These alliances include Phase I of the Loran field, service and purchase orders for works in the northern area of Monagas and the purchase of spare parts for the compression park, with the objective of reducing burned gas.
Mazo News Team