U.S. Chevron and GE Vernova, India’s ONGC, Italy’s Eni and Colombia’s GeoPark are on track to sign final agreements in Venezuela after months of negotiations to firm up energy projects in the OPEC country, four sources close to the preparations said.
The agreements, which could be inked as early as this week, are separate from a massive Caracas-Washington pact announced last week for the United states to lock in a stake in 17 oilfields with some 64 billion barrels of proved reserves, a fifth of Venezuela’s total crude reserves.
Eni said is working with its Venezuelan counterparties and any other authorities to “support the revitalization of the country’s energy sector.” Chevron, GE Vernova, ONGC and GeoPark did not immediately reply to requests for comment.
(Reporting by Marianna Parraga in Houston and Deisy Buitrago in Caracas; Editing by Nathan Crooks and Timothy Gardner)