Energy Industry
Industry: Email Alert RSS FeedENI, REPSOL, PETROBRAS AND TEIKOKU CLAIM VENEZUELA CONTRACTS.
Europe Energy, November, 2005
The Venezuelan government has awarded a domestic company and four foreign firms licenses to explore blocks in a natural gas project, Energy Minister Rafael Ramirez said on November 16. The exploration licenses were awarded in the second round of bidding in the vast Rafael Urdaneta project, which comprises five fields located in the Gulf of Venezuela and in the western state of Falcon.
They are estimated to hold a combined 728 billion cubic meters of gas. Ramirez said that Italian group ENI SpA and Spain's Repsol YPF had won exploration rights for the Cardon IV block for US$34.3 million. Brazil's Petrobras and Japan's Teikoku were awarded the Moruy II block for US$19.5 million. Venezuelan firm Vinccler Oil and Gas will explore the Castillete-Northeast block for...
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