|
|
Article: Venezuela : Venezuela buys Conoco Deltana share, Chevron stays.
- Article from:
- TendersInfo
- Article date:
- October 5, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Venezuela said on Friday it had acquired ConocoPhillips' (COP.N) share in the Deltana Platform offshore natural gas project and will develop the field in a joint venture with Chevron (CVX.N).
The Deltana Platform is a gas field between the mouth of the Orinoco river and Trinidad and Tobago. Chevron and ConocoPhillips have been exploring the area since 2003 and found about 7 trillion cubic feet of natural gas in two blocks.
State oil company PDVSA will hold a 61 percent share in the project and Chevron 39 percent, the company said in a statement. PDVSA said the joint venture will produce 750 million cubic feet per day but did not give a timeline or an ...