The Daily Journal. — Energy company Shell has launched the bidding process to hire drilling services for the Dragon gas field project in eastern Venezuela.
Sources familiar with the process told Reuters that the plan calls for drilling four wells in the area beginning in the second quarter of 2027.
The sources said Shell expects to award the contract by the end of September 2026. The agreement will take effect once the company approves the field’s final investment decision, which holds an estimated 4.2 trillion cubic feet of natural gas reserves.
The Dragon project faced previous delays after the U.S. government changed its policy toward Venezuela. During Joe Biden’s administration, licenses allowed Shell and the National Gas Company of Trinidad and Tobago (NGC) to operate the project. Donald Trump’s administration later revoked those authorizations.
Washington subsequently authorized the continuation of the Dragon project and other oil-sector operations following Venezuela’s change of government in early 2026. Regarding the project’s current status, Shell spokespersons said the company continues to move forward in compliance with all applicable laws, regulations, and sanctions.
The Dragon field lies in Venezuelan territorial waters along the maritime border with Trinidad and Tobago. The development plan calls for transporting the natural gas to Trinidad, where 70% of production will supply the Atlantic LNG export facility, with the remaining 30% serving the country’s petrochemical sector.
With information from Reuters.
