BP to Explore Venezuelan Offshore Natural Gas Alongside Emirati, Qatari Partners

Politicians say UK’s tax policy drove BP to abandon West of Shetland assets in favour of ‘drilling deals with dictatorships’ in South America

BP’s Venezuelan deal includes an exploration and production licence for the Loran field, which contains an estimated four trillion cubic feet of gas.

BP to explore Venezuelan Offshore Natural Gas alongside Emirati, Qatari partners

BP and Shell are set to drill in multiple Venezuelan offshore natural gas projects, while state-owned PDVSA is not a stakeholder in the ventures. By Ricardo Vaz CARACAS, (venezuelanalysis.com) – The Venezuelan government has granted an offshore natural gas concession to a consortium of British multinational BP, the United Arab Emirates’ XRG, and Qatar’s UCC. Acting president Delcy Rodríguez held an agreement-signing ceremony and press conference…

XRG announces entry into Venezuela

XRG has announced its entry into Venezuela through the award of the offshore Loran licence by the Bolivarian Republic of Venezuela, and the transfer of interest in the license by PDVsA Gas.

BP strengthens offshore gas push in Venezuela

Supermajor BP and the Venezuelan government have signed agreements to advance offshore gas development, including awarding an exploration and production licence for a new phase of the Loran field in the Plataforma Deltana area. BP will operate the project, which covers resources estimated at around 4trn cubic feet of recoverable gas, in partnership with XRG, …