International oil major Shell is closing in on the first big oil production deals with Venezuela since the US capture of illegitimate president Nicolas Maduro in January, sources close to the negotiations told Reuters.
Shell signed preliminary oil and gas agreements with Venezuela last week, when US Interior Secretary Doug Burgum was in Caracas. Venezuela’s government did not make public the details of those deals and the fields included.
Shell confirmed in an email it signed several agreements with the government, engineering companies Vepica and KBR, and oil-service firm Baker Hughes, which, “formally articulate Shell’s intent to progress a variety of opportunities with Venezuela,” including offshore gas, onshore oil and gas, exploration, local content and workforce development. It did not disclose the fields or give further details to Reuters.