Qatar's UCC is in talks with Venezuelan oil and gas companies about possible entry into their areas, says executive
Erik Keskula said that the head of Upstream for UCC Oil and Gas Holding, a Qatari producer, is currently in negotiations to enter new fields in Venezuela.
UCC, British BP and XRG - a 'unit' of United Arab Emirates state company ADNOC - were granted a license for the development of the 'Loran' gas project, which is one of the biggest in Venezuelan waters and reaches into Trinidad and Tobago.
The pact granted the?group the right to produce up 4 trillion cubic foot of gas at Loran. Its total reserves have been estimated to be 7.3 TCF. Shell Energy?was awarded a parallel licence for the same field of gas.
Keskula stated, "We are interested in everything." "We are searching for the right opportunities in all sectors."
Qatar's Ministry of Foreign Affairs said on Tuesday that Venezuela's interim president Delcy Rodriguez 'discussed' cooperation opportunities with Qatar's State Minister Mohammed 'bin Abdulaziz Al-Khulaifi during a recent meeting in Caracas.
(source: Reuters)
