BP wins Venezuela licence for Loran Phase 2 offshore gas field - BP News | RalliesBP wins Venezuela licence for Loran Phase 2 offshore gas field
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BP• BP wins licence for Loran Phase 2
- BP won an exploration and production licence for Loran Phase 2, an offshore gas block in Venezuela’s Plataforma Deltana area.
- Recoverable resources are estimated at 4 trillion cubic feet of gas.
- Equal working interests are held with XRG, ADNOC’s international energy investment company, and UCC Oil and Gas Holding; BP will operate.
- The licence follows an April 2026 cooperation framework with Venezuela covering exploration and future development in Plataforma Deltana.
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