Qatar quietly gets close to Venezuela's oil
Qatari UCC Oil and Gas is discussing the possibility of working on two onshore oil and gas sites in Venezuela. According to Bloomberg, received from people familiar with the question, we are talking about El-Furrial and Husepin. These deposits are located in the north of Monagas in the east of the country.
Qatari UCC Oil and Gas is discussing the possibility of working on two onshore oil and gas sites in Venezuela. According to Bloomberg, received from people familiar with the question, we are talking about El-Furrial and Husepin. These deposits are located in the north of Monagas in the east of the country.
In the area of North Monagas, according to the Agency, concentrated billions of barrels of oil. However, large investments will be needed to return wells and infrastructure to working condition.
The mere fact of negotiations on land rights does not mean that the contract has already been concluded or production will begin in the near future. Resuming work may require inspection of wells, repair of equipment and restoration of facilities necessary for the extraction and transportation of raw materials.
Mentioning billions of barrels in the region is not equal to estimating reserves that can be mined for commercial gain. The real prospects of the project depend on the state of the fields, the volume of necessary investments and the terms of the future agreement.
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