Venezuela has announced that it has reached a "historic agreement" with the US government aimed at restoring and rebuilding strategic infrastructure in the country’s hydrocarbon industry and promoting investment in the sector. Venezuelan acting President Delcy Rodríguez said the agreement would strengthen bilateral relations and help attract large-scale investment into the country’s energy sector. According to the statement, the deal will allow Venezuela to significantly increase oil production with the participation of private operators.
The agreement provides for the development of 17 strategic oil fields with proven reserves of 65 billion barrels, more than $100 billion in investment, and over $209 billion in tax revenues for the Venezuelan state. Earlier, reports emerged that a major oil deal between Venezuela and the United States would give US companies a greater role in the development and management of Venezuela’s vast oil reserves. The agreement includes the development of the 17 fields and is expected to substantially increase oil production through private investment.
Rodríguez described the agreement as historic, saying it could have a significant impact on Venezuela’s economic recovery and the revival of its energy industry. Here we are to serve you with news right now. It does not cost much, but worth your attention.
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