The National Assembly approved on Tuesday the Draft Agreement in Support of the Energy Agreement between Venezuela and the United States.
In a special session, the president of Parliament, Jorge Rodríguez, asserted that the agreement between the United States government and the Bolivarian Republic of Venezuela "is not yet under discussion" by the Legislative Body, because the document has not been submitted by the parties involved.
“This National Assembly is not acting in discussion of the binational agreement between the two governments,” because it has not been officially recorded by both parties, but the approval of the draft agreement is to support the announcement of the agreement between Caracas and Washington in order to establish the debate and make clarifications for the Venezuelan people and legislative members.
“This agreement is not esoteric at all and is based on the reform of the Organic Hydrocarbons Law that you voted on last January (…) When the binational agreement is signed, we will gladly be able to debate it here in the National Assembly; so that we can gladly share the immense benefits and advantages that the signing of this binational agreement means for all the people of Venezuela, for its women and men,” he added.
"What's coming is that Venezuela will have the fastest-growing economy on the continent and a recovery of well-being," the president of the National Assembly stated.
He added that Petróleos de Venezuela (PDVSA) "has done a great deal of work to identify the oil fields."
He emphasized that through the energy agreement, Venezuela will be able to obtain the appropriate technology to extract crude oil from oil wells.
“To begin producing oil, a huge amount of money needs to be invested, which Venezuela doesn't have; technologies are needed for the production of crude oil in the Orinoco Belt and also from the depleted fields in Lake Maracaibo. There are 12 billion barrels that can be extracted from those fields. With the right technology and the right contracts, the prosperity that Zulia state and the Bolivarian Republic of Venezuela deserve will return,” Jorge Rodríguez pointed out.
He stated that along with the 17 oil fields included in the agreement, 50 Productive Participation Contracts (CPP) have been signed to date, while another 15 contracts will be signed soon due to the interest of different multinational companies.
Rodríguez indicated that the exploitation of the 17 oil fields will allow for "an increase in the production of one and a half million barrels per day, and will generate between 209.000 and 210.000 billion dollars in revenue for the country." He also asserted that many companies involved in the international energy market have already expressed interest in the country. "The phones haven't stopped ringing, and everyone wants to come and sign CPP agreements in Venezuela. Europeans, Asians, the United States of America."
President Delcy Rodríguez announced on Saturday in a national broadcast that the development of 17 strategic fields is planned. with "a proven potential of 65 billion barrels of oil." He also explained that, using a price of $65.000 per barrel as a reference, the country could receive $209.335 billion under the agreement.
