Thursday, June 11th 2026 - 23:12 UTC
Rodríguez described the award as a “historic step,” recalling that the field had remained “without development” for 23 years
Venezuela on Thursday granted the British company Shell a license for a first phase of exploration and exploitation of the Loran gas field, which has seven reservoirs, six of them transboundary with Trinidad and Tobago. The signing was led by acting President Delcy Rodríguez at Miraflores Palace, the seat of the Venezuelan government.
Five instruments were signed at the event: the Loran field license and four others stemming from the technical-financial alliance established in March, which include the first service and purchase orders. Agreements were also signed for the development of the Carito and Pirital production units, of the Punta de Mata division, in the eastern state of Monagas. Rodríguez described the award as a “historic step,” recalling that the field had remained “without development” for 23 years, and said the license would allow “adequate use of the gas for export.” Shell's President of Exploration and Production, Peter Costello, called the signings “a wonderful achievement” for Venezuela and the company, during the event broadcast by the state channel VTV.
