Venezuela signed a license with the company Shell to operate the Loran gas field

Published at: 11/06/2026 05:15 PM

This Thursday, June 11, Venezuela signed a set of agreements with the multinational company Shell, for the start of Phase I of the Development and Exploitation of the Loran Field.

The event held at the Miraflores Palace was led by the President in charge of the Republic, Delcy Rodríguez, where five instruments were signed, designed to increase Venezuela's energy capacity for domestic consumption and the export market.

The Loran Field is an unassociated natural gas asset that has seven fields, of which six are cross-border with the Republic of Trinidad and Tobago.

The other four legal instruments respond to the technical-financial alliance established last March and consist, on the one hand, of service orders and purchases intended for the execution of works in the north of the state of Monagas.

These agreements aim at increasing the production of light crude oil, a hydrocarbon used as a necessary diluent for the formulation of (Blend) Merey 16 with the crude oil extracted from the Orinoco Oil Belt.

It is also planned to supply the inputs required by the Puerto La Cruz Refinery for fuel production.

The purchase orders derived from these agreements contemplate the purchase of spare parts and for the compression park what will decrease the burning gas.

Mazo News Team