The Venezuelan Petroleum Chamber confirmed increased activity among companies and equipment in the sector
The Daily Journal.- The Venezuelan Petroleum Chamber (CPV) confirmed Thursday that oil activity in Zulia state has begun to pick up, with companies increasing operations and production reaching between 350,000 and 360,000 barrels per day.
Roy Biagioni, president of the CPV’s Zulia chapter, told Unión Radio that operations have gained momentum in Lake Maracaibo, while equipment movement has also increased onshore. “You can definitely see it, but we don’t have an index yet,” he said.
The businessman explained that many companies continue to operate at minimum capacity, while others are ready to begin operations. He added that some require financial and technological support to join the oil sector.
New companies could join oil activity in Zulia
Meanwhile, Enrique Noboa, president of the Venezuelan Petroleum Chamber at the national level, said the new legislation allows Venezuelan companies to participate at any point in the value chain. This regulatory framework has opened opportunities for local companies to join oil operations in Lake Maracaibo and other projects across the sector.
The oil agreement announced by Washington calls for developing 17 oil fields in the Orinoco Belt and Zulia, with estimated reserves of 65 billion barrels.
With information from Unión Radio
