Maurel & Prom: towards relaunching activities in Venezuela
These agreements, made possible by the recent easing of US sanctions against the Venezuelan oil and gas sector, will enable the redevelopment of the assets and provide for the repayment of the debt of its subsidiary M&P Iberoamerica.
The French group points out that the Urdaneta Oeste field, in which it holds a 32% net interest, has a current production potential of around 16,500 b/d (in 100%), with a target of 25,000 b/d by the end of 2024.
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