The Qatari company UCC Oil and Gas Holding maintains conversations about a possible participation in the sector of oil and gas from Venezuelareviewed Reuters.
Erik Keskula, the company’s Upstream head, confirmed the negotiations during a conference Tuesday in Caracas. “We are interested in everything, the truth is. “We look for the right opportunities in all sectors,” he said.
UCC already participates together with British BP (BP.L) and XRGa unit of the Emirati state-owned ADNOC, in the Loran gas project, in Venezuelan waters and expanded to Trinidad and Tobago.
In August, the three companies obtained a long-term license to develop the field. The agreement includes rights to produce up to 4 trillion cubic feet of gascompared to reserves estimated at 7.3 trillion cubic feet.
Simultaneously, the energy company Shell (SHEL.L) received another license to develop the same gas field.
The possible expansion of UCC comes after a recent meeting in Caracas between the interim president of Venezuela, Delcy Rodríguez, and the Minister of State of QatarMohammed bin Abdulaziz Al-Khulaifi.
Qatar’s Foreign Ministry said both officials discussed opportunities for cooperation, although it did not offer additional details.
