INSUBCONTINENT EXCLUSIVE:
agreement.This pact aims to restart oil and gas production in the Zulia state in western Venezuela, as reported by state media.The signing
of the agreement marks the official reactivation of the joint venture Petroregional del Lago, S.A.This venture operates in the Urdaneta
field near Lake Maracaibo, a key location in the South American country
that the agreement was signed to boost production.This increase aims to enhance the development of the state-owned oil company, benefiting
(Photo Internet reproduction)This agreement is expected to increase our output to around 50,000 or 60,000 barrels daily in the short to
us, this is a very important stage
representative.BackgroundVenezuela has one of the largest oil reserves in the world
Its oil sector has historically been a major part of the economy.However, the industry faced challenges in recent years due to various
factors, including political and economic instability.Pdvsa, once a leading oil company, has seen a decline in production and revenue
this key sector.Lake Maracaibo is an essential oil production region in Venezuela
It has been a focal point for oil extraction for many decades.The Urdaneta field, in particular, has significant oil reserves.Maurel - Prom
is a renowned player in the global energy sector
Its expertise in oil and gas production is well-established.The collaboration with Pdvsa could bring new technologies and practices to
