Sunday, March 8, 2009

Venezuela Launches Joint Venture to Develop Offshore Gas Fields

CARACAS – Venezuelan state energy company PDVSA announced the signing of a multi-billion-dollar joint venture with Portuguese, Argentine, U.S. and Japanese firms to develop massive offshore natural gas fields.

The venture, in which PDVSA will have a majority stake, will design, build and operate two liquefaction plants at the Gran Mariscal de Ayacucho gas industrial complex in the northeastern state of Sucre, as well as pipelines to transport the fuel to those facilities.

Click here to access this full article from the Latin American Herald