Venezuela expects nearly $76 billion in oil investment over five years, acting president says
USO•Venezuela expects nearly $76 billion in oil investment over five years under recently signed agreements, acting President Delcy Rodriguez said. A bilateral accord with the US covers 17 oilfields and plans to drill 250 rigs.
1. Investment agreements
Rodriguez said the US accord was part of a broader package of 61 agreements. She said the investments would bring direct benefits to Venezuela and its partners.
2. Zulia production
Rodriguez said oil production in western Zulia state had risen from 70,000 barrels per day to 370,000 bpd and was expected to reach 400,000 bpd by year-end. She did not say over what period production increased.
