Chevron and Shell Sign Venezuela Energy Agreements
Chevron and Shell are signing agreements today to develop oil and gas fields in Venezuela. The deals cover offshore gas and heavy crude production areas.
Major energy corporations are moving to solidify their presence in the South American energy market through a series of new operational agreements. CHEVRON CORP is anticipated to sign contracts on Monday that will facilitate its return to an offshore gas field in Venezuela. The agreement also includes Chevron's participation in an extra heavy crude oil project located within the nation's primary oil-producing region. In a parallel development, SHELL PLC is scheduled to enter into a pact to receive and operate the Loran gas field. These strategic moves represent a significant re-engagement by global energy leaders in the region's oil and gas infrastructure.
