March 24, 2006
Venezuelan Energy Minister: New natgas explore an produce licenses to be awarded

(BNamericas.com) - "New licenses to explore and produce natural gas in Venezuelan oilfields that third parties operate for state oil company PDVSA will be awarded soon, newspaper El Universal quoted company president Rafael Ramírez as saying.

The licenses will cover areas in four of these 32 oilfields, and are part of the migration to PDVSA-controlled joint ventures from operating agreements, said Ramírez, who is also the country's energy and oil minister.

The latest figure shows these areas contain an additional 11Tf3 compared to original estimates, he added. The country's current natural gas production is 7Bf3/d (...).".