With the goal of revitalizing national energy production, the President of the Republic, Delcy Rodríguez, led this Monday the signing of an Understanding Memorandum between Petróleos de Venezuela S.A. (PDVSA) and the U.S. corporation ExxonMobil.
The signing of the legal instrument was made by PDVSA President Héctor Obregón and ExxonMobil’s country executive, Andrés Acosta. The ceremony was also attended by senior executives from the international firm, including the President of ExxonMobil Upstream Company, Dan Ammann, and the Vice President of Planning, David Juárez-Navarro.
During the event, the Head of State highlighted that this agreement is the result of months of intensive bilateral discussions, and contemplates the reactivation of existing deposits, as well as the exploration of new hydrocarbon fields with significant continental reserves. She emphasized that the partnership will combine the company’s technological and capital resources with the technical expertise of Venezuelan oil workers.
For their part, the corporate representation manifested its readiness to work together to harness the country’s resources and generate mutually beneficial outcomes, a preliminary step toward the formalization of definitive operational agreements between the two organizations.