Repsol aims to triple its oil production in Venezuela
Repsol will take direct control of oil operations in Venezuela "in the coming days", announced the company's CEO, Josu Jon Imaz
TL;DR
- Repsol will take direct control of its Venezuelan oil operations within days.
- The company commits to tripling its gross oil production in Venezuela over the next three years.
- Repsol recently agreed to increase natural gas production in Venezuela, ensuring 50% of the country's electricity.
- The European companies operate the Perla gas field, producing 585 million cubic feet of gas daily, about 48.7% of its potential.
- Repsol has a two-decade history in the US, with oil, gas, and renewable energy investments.
- The Pikka project in Alaska, discovered by Repsol, is expected to significantly impact oil history in the region.
- Repsol is a major US gas producer, supplying a significant portion to Europe.