Venezuela signed a premium contract with Maurel & Prom that will allow the French oil company to triple its production –up to 50,000 barrels per day– in the state of Zulia. Others are following behind.
Venezuela signed a contract with Maurel & Prom that will allow the French oil company to triple its production –up to 50,000 barrels per day– in the state of Zulia after the temporary lifting of oil sanctions. The agreement will allow Maurel & Prom more financial and operational control over its joint venture with PDVSA, conditions that had previously only been granted to Chevron. The European oil companies Eni and Repsol are in negotiations to achieve similar agreements.
Oryx, the company of a Qatari tycoon, also signed a preliminary agreement to reactivate the refinery in Curacao that processes Venezuelan crude. The investment would exceed $750 million dollars and seeks to revitalize the island’s role as a way station for Venezuelan crude oil.
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