Petróleos de Venezuela, S.A. (PDVSA) and the oil companies National Gas Company of Trinidad and Tobago (NGC) and Shell signed on Thursday a license for the exploration and exploitation of non-associated gas in the Dragon field, located on the Paria peninsula.
This was reported by the Official Account of the Vice Presidency of the Bolivarian Republic of Venezuela, which posted "This is how the signing of the agreement between Venezuela and Trinidad and Tobago for the production and export of gas took place. The Executive Vice President of the Republic, @delcyrodriguezv, led a historic event that marks the good relations between both nations.
#In pictures || This is how the signing of an agreement between Venezuela and Trinidad and Tobago for the production and export of gas was developed. The Executive Vice President of the Republic, @delcyrodriguezv, led a historic act that marks the good relations between both nations.#22Dic pic.twitter.com/9Yif6Bcpkl
- Vice Presidency Vzla (@ViceVenezuela) December 22, 2023
The state oil company also published, "PDVSA grants license to NGC and Shell for exploration and exploitation of the Dragón field."
Official information states that the export and exploitation license is part of the energy policies promoted by President Nicolás Maduro to strengthen Venezuela as a gas exporter and in the development of the global petrochemical and liquefied natural gas (LNG) park.
The event took place at the facilities of the MinPetróleo – PDVSA La Campiña Complex and was attended by the executive vice president, Delcy Rodríguez, the minister of Popular Power of Petroleum and president of PDVSA, Pedro Rafael Tellechea, the minister of Energy and Energy Industries of Trinidad and Tobago, Stuart Young, as well as Mark Loquian, director of NGC, Adam Lowmass, president of Shell Trinidad and Tobago, and Alfredo Urdaneta, representative of Shell Venezuela.
At a press conference, after signing the agreement, Rodríguez indicated that “this great project marks a historic moment for Venezuela, since for the first time gas will be produced and exported and we are doing it hand in hand with a sister country, a neighboring country such as Trinidad and Tobago. It is an example of what relations of cooperation and friendship between our countries should be.”
"This demonstrates the great spirit of the people of Trinidad and Tobago and Venezuela for developing these cordial and cooperative relationships through this project," he said.
He also indicated that the year closes “with a flourish, which means the future development of this field in the hands of both countries with the participation of Schell as a company in the extraordinary terms that this expanded partnership means to work for the sake of happiness.” of our people.”
For his part, Stuart Young stated that NGC and Shell will work hand in hand with the Venezuelan government to develop this important gas project.
“This is a great day for Venezuela and Trinidad and Tobago, since after so much work today we gratefully received this license to produce gas in the Dragon field.”
The agreement was also reported by Telesur, whose correspondent in the country, Madelein García, posted: "Venezuela will export gas for the first time and will do so to Trinidad and Tobago. For the development of this project, the Venezuelan state-owned company @PDVSA and the state-owned company of Trinidad and Tobago, NGC National Gas Company, signed the exploitation and export license for the Dragon field located offshore in the state of Sucre.
The last 20 of December, PDVSA and the Kòrsou Refinery (RdK) signed an agreement to reactivate commercial relations between the Bolivarian Republic of Venezuela and Curacao. The agreement establishes general agreements for the reestablishment of commercial and financial operations between state oil companies.
Also, the possibility of studying the feasibility of the Venezuelan oil industry being able to store its crude oil in the facilities of the Caribbean island is raised.
The agreement will have a favorable impact on the economies of both countries, since it would be associated with the reactivation of the old Isla Refinery, with a processing capacity of 335 thousand barrels per day.
