Shell is in advanced talks with Venezuela's government to develop four large areas near Trinidad and Tobago, in two of the South American country's largest offshore natural gas fields…
Shell is in advanced talks with Venezuela's government to develop four large areas near Trinidad and Tobago, in two of the South American country's largest offshore natural gas fields, two people familiar with the discussions said.
The London-based energy major has been trying for years to advance the 4.2-trillion-cubic-feet Dragon gas field in Venezuelan waters and could make a final investment decision on the flagship project by the end of this year.
The sources said Shell now wants to include neighboring areas, expanding its reach in the OPEC nation under the government of interim President Delcy Rodriguez.
Shell is targeting access to the three fields that, along with Dragon, are part of the 12-tcf Mariscal Sucre project off Venezuela's eastern coast. This is in addition to the 7.3-tcf Loran offshore area, part of a cross-border field that extends into Trinidad, for some 20 tcf of combined reserves, the people said.
In March, Shell executives signed preliminary deals in Caracas with Rodriguez's administration to move Dragon forward and possibly develop two coveted onshore oil and gas fields known as Carito and Pirital.
GAS WILL BE PROCESSED IN TRINIDAD
Shell expects to send the Venezuelan gas to Trinidad for processing into liquefied natural
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