Venezuela's Hydrocarbons Minister Paula Henao announced on Thursday the signing of Phase II of the Loran gas field exploration license with BP plc from the United Kingdom, XRG from the United Arab Emirates, and UCC Oil and Gas from Qatar.
The Emirati partner, XRG, is ADNOC's investment vehicle for low-carbon energy and chemicals. The agreement aims to develop the seven-deposit field in the Deltana Platform, with six deposits shared with Trinidad and Tobago.
Acting President Delcy Rodriguez stated that the deal is a big achievement after 23 years. BP's Meg O'Neill expressed honor in accelerating development "for the benefit of the Venezuelan people." The deal follows Phase I signed with Shell, positioning Venezuela to boost natural gas production and export capacity.
https://breakingthenews.net/Article/Venezuela-inks-gas-deal-with-UK-UAE-and-Qatar/66918426
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