Venezuela signs agreements with Chevron, Eni, GE, in presence of US Secretary of Energy - EFE

Caracas (EFE).- Venezuela signed oil agreements with the United States company Chevron and the Italian company Eni on Wednesday.

The signing took place in the presence of Venezuela’s Acting President Delcy Rodríguez, and the US Secretary of Energy Chris Wright, who is visiting Caracas less than a week after the historic oil agreement between the two countries was announced.

The Venezuelan government and Chevron signed a document recognizing the conversion contracts for the joint ventures Petroboscán, Petropiar, and PetroIndependencia, which were established between the state-owned Petróleos de Venezuela (PDVSA) and Chevron after the country’s hydrocarbons law was amended in January.

The agreement also recognized adjustments to these joint ventures’ business plans «under the new legal and fiscal framework for the hydrocarbons sector,» according to Venezuelan officials.

Both parties also signed a “comprehensive bond payment agreement” granting “access to hydrocarbon reserves in the delineated areas” to PetroIndependencia.