The President in Charge of the Bolivarian Republic of Venezuela, Delcy Rodríguez, announced that at the formal signing of agreements with the multinational Shell company were consolidated negotiation mechanisms that are being contemplated for the first time in the Hydrocarbons Law:
«For the first time, in the Hydrocarbons Law, which was recently reformulated and amended, are being allowed these forms of negotiation and flexible business agreements, which will also boost production and allow for better use of resources for the people of Venezuela,» explained the National Dignitary.
Rodríguez emphasized that this strategic step seeks to enhance the country’s energy capabilities through direct collaboration with key international players, thus ensuring concrete progress in the infrastructure necessary for hydrocarbon extraction in the Lora Field, a trans-border field shared by Venezuela and Trinidad and Tobago.