The energy agreement signed between Venezuela and the United States for the development of 17 oil fields will generate over $209 billion in taxes for the national treasury during the implementation period, as reported he Minister for Hydrocarbons, Paula Henao:
«The development of these 17 fields represents an investment of over $100 billion, which, for Venezuela, will represent throughout the period more than $209 billion in taxes,» Henao explained.
The minister emphasized that the resources from oil revenue will support public spending and contribute to areas such as hospitals, education, health, culture, the communal power and entrepreneurship.
The projection is linked to the development of 17 fields, which envision the exploitation of more than 65 billion barrels of oil and a capital investment exceeding $100 billion «for field development,» as specified the minister.
The Minister for Hydrocarbons noted that these projects will also boost the incorporation of Venezuelan workers, attract new talent, and the return of professionals trained in universities and postgraduate programs abroad.
Likewise, the official indicated that field development will incorporate technologies for monitoring and controlling reservoirs, along with integrated studies aimed at strengthening geological evaluation and well development.