Venezuela signs energy deals with Shell and Schlumberger to boost gas and oil
The interim president of Venezuela, Delcy Rodríguez, led the signing of two sets of agreements with foreign energy firms. Five flexible contracts with Shell were concluded to restart gas production at the Lora/Loran field, a trans‑border asset shared with Trinidad and Tobago. The deals aim to increase domestic gas supply, reduce flaring, and launch liquefied natural gas exports, while also supporting light‑crude production in Monagas.
In a separate memorandum of understanding, PDVSA and Schlumberger Limited (SLB) agreed to introduce advanced digital and AI‑driven technologies for exploration, drilling and reservoir optimisation. PDVSA president Héctor Obregón said the partnership will steer new capital by technical data, improving field productivity and attracting further foreign investment. Both agreements are presented as a new chapter of international cooperation for Venezuela’s energy sector.