Shell Petroleum signs oil and gas project agreement with Venezuela

Shell Oil announced that on Thursday, the company signed multiple oil agreements with the Venezuelan government, covering offshore natural gas and onshore oil and gas development projects. Shell also signed various technical and commercial agreements with Venezuelan engineering company VEPICA, American engineering company KBR, and oilfield service provider Baker Hughes. These agreements were signed after meetings between US Secretary of the Interior Doug Burgum and Venezuelan interim President Rodriguez this week. Trinidadian Energy Minister Roodal Moonilal stated that the latest agreements between Venezuela and Shell will clear obstacles for the Dragon project development, with the first batch of natural gas expected to be exported to Trinidad in the third quarter of 2027.