PDVSA and Repsol Entered Into a Framework Agreement for the Administration of Empresa Mixta Petroquiriquire S.A.

Source Company Press Release
Company PDVSA, Repsol
Tags Corporate: Overview/Strategy, Country: Venezuela
Date December 18, 2023

This Monday at the facilities of the MinPetróleo - PDVSA La Campiña Complex, Petróleos de Venezuela, S.A. (PDVSA) and the Spanish oil company  Repsol signed a Framework Agreement for the administration of the Petroquiriquire Joint Venture.

In this way, the bases are established that will allow improving the execution of the activities of the joint venture (comprised 60% by CVP and 40% by Repsol).

It should also be remembered that Petroquiriquire has an impact on the Western Division, located south of Lake Maracaibo, and the Furrial Division, which is located in eastern Venezuela.

It should be noted that Repsol has been operating in the country for 30 years, and this agreement ratifies this binational oil cooperation.

Francisco José Gea, Solidarity Administrator of Repsol Exploración, S.A. indicated, "this signing means a point and a continuation of the relationship and commitment that  Repsol has shown with Venezuela, not only with the industry but also with the society that welcomes us. This agreement boosts the industry, society, and the relationship between  Repsol and  PDVSA; between Spain and Venezuela". He pointed out.

Pedro Rafael Tellechea, People's Minister of Petroleum and President of PDVSA, stated: "we have reached two extremely important agreements for PDVSA and  Repsol. I thank all the international companies that have trusted and are present in Venezuela, they are with us in spite of the difficulties, because we are going to continue growing".

He also indicated: "we celebrate the presence of Repsol to continue with this work in the coming years, this is a great victory, because we have a common work with great projections that we will continue to show as we have done all this year," he concluded.

With this agreement led by the People's Minister of Petroleum and President of PDVSA, Pedro Rafael Tellechea, the instructions issued by the President of the Republic, Nicolás Maduro Moros for the strengthening of the national oil industry are consolidated step by step.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd