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Financial News: VENEZUELA: Shell Revises Projects, Reaffirms Interest In T

VENEZUELA: Shell Revises Projects, Reaffirms Interest In The Country

08/09/2017 - 20:46:00 (RTTNews)

(RTTNews) - The Venezuelan government and Shell reviewed the onshore and offshore gas projects under development in the South American country, and the Anglo-Dutch company reaffirmed its interest in the region.

After a meeting between Venezuela's Oil Minister Nelson Martinez and Shell's vice president for South American and African gas, Mounir Bouaziz, the oil company executive said that Shell "has many reasons to participate in projects with Venezuela", mainly because of the country's "geographical location, which allows distribution to the Caribbean, Europe, and Asia."

According to a statement by the state-owned oil company PDVSA, "the day served to verify the progress of the project for the interconnection of the offshore gas fields Dragon and Hibiscus," which will allow the production of 150 million cubic feet of gas in a first phase, and more 100 million cubic feet in a second stage.

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