Repsol and PDVSA Agree to Increase Petroquiriquire Oil Production
Repsol has signed an agreement with PDVSA to increase oil production at the Petroquiriquire asset in Venezuela. The agreement aims to enhance operational frameworks and secure payment mechanisms, with Repsol targeting a 50% increase in production within a year and tripling it in three years. The deal is contingent on certain conditions and follows a 2023 framework agreement.
Topics: M&A oil production operational expansion PDVSA Repsol Venezuela