A Nigerian oil company, Veneoranto Petroleum Limited, has signed an agreement with Venezuelan state-owned PDVSA to develop two natural gas prospects in that country.
Veneoranto is a subsidiary established in Venezuela of Atlas Oranto, a Nigerian company, in the oil and natural gas area. Sources informed New Telegraph yesterday that President of Venezuela, Nicolás Maduro: Venezuelan Minister of People’s Power of Petroleum, Pedro Tellechea and a Nigerian representative of Veneoranto Petroleum Limited, Arthur Eze, were present during the agreement signing ceremony.
The sources said that part of the agreement was the technical and economic feasibility of the development of the Barracuda Area, in territorial waters and the surface of the Gulf of Venezuela.
They added that the deal also involved technical economic feasibility for the development of the Boca de Serpiente area in the northeast of the state of Delta Amacuro of Venezuela. Sources further stated that the agreements would be executed by both parties. The offshore prospect is called Barracuda and is in the Gulf of Venezuela.
It is estimated to have reserves of 20tcf of natural gas and about two trillion barrels of condensate. Eze, while speaking at the event, said Africa was ready to invest in Venezuela. He said: “Africa is happy and knows a lot about Venezuela. We want to come here to invest. May God bless and bless his people.”
Eze advised the Venezuelan President to “continue fighting as Hugo Chávez did. Maduro said the agreement was a development for them to “join forces to dream together and build together towards the future”. He expressed optimism that Venezuela would be exporting gas to some African countries.
He said: “I am very pleased that the investment process for gas production from the Gulf of Venezuela, from the Deltana platform is being accelerated. “Two gas powers from South America, the Caribbean and the world, and we will soon be exporting gas to Africa.”
