Energy secretary: US energy company to announce Venezuelan investment

U.S. energy secretary Chris Wright said that a U.S. oil producer would?announce a'major investment 'into Venezuela on Wednesday.

Foreign oil producers are moving joint ventures and sharing production contracts to Venezuela as part a sweeping energy reform. Meanwhile, new entrants – mostly U.S. based firms – are committing to development in the OPEC nation encouraged by a $100 billion reconstruction plan supported by Washington.

Bloomberg News reported that Oklahoma City's Continental Resources, founded by billionaire Harold Hamm and based in Oklahoma City, will?announce? a deal to invest in South America at the G20 energy summit being held in Houston.

Continental is one of a number of companies that have been reported to be in talks with Donald Trump's administration about possible investments after U.S. forces removed Nicolas Maduro as president?in January.

Continental Resources didn't respond immediately to a comment request.

Separately, Florida-headquartered ?Denarius Holding Group, whose main shareholder ?is Turkey's energy firm Can2 Termik , said Wednesday that it ?had reached a 20-year agreement ?to operate an ?oil project in Venezuela.

(source: Reuters)