Rosneft wins access to Venezuela’s offshore riches

Rosneft has sought to produce – and export – Venezuela’s offshore gas for years. Caracas, which is facing a severe economic crisis, has finally signed up Rosneft has sought to produce – and export – Venezuela’s offshore gas for years. Caracas, which is facing a severe economic crisis, has finally signed up.
By Chris Noon 18 December 2017 0 28816
A map of Rosneft’s upstream focus in Venezuela.

Rosneft will become the operator of the giant Patao and Mejillones offshore gas fields in Venezuela, the state-owned Russian giant announced in a statement on Monday.

The company’s wholly owned Grupo Rosneft unit will control the fields for 30 years and have the right to sell all gas produced from the fields for export, including as LNG, Interfax reported on Monday.  

Total estimated reserves at the two fields, which are part of the vast offshore Mariscal...

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