Spain's RuiShuo Energy signed an agreement with the Venezuelan government to explore oil in the Horcon area of the country.

Spain's Ruishuo Energy has announced that it has signed an agreement with the Venezuelan government to explore and possibly develop an oil field in the Horcon area in the southeast of Lake Maracaibo. After years of turmoil, this memorandum of understanding signed with the Venezuelan government and the national oil company PDVSA expands Ruishuo Energy's business in the country. In April of this year, the company announced that it would regain operational control of the Petroquiriquire oil field. Ruishuo Energy also plans to conduct feasibility studies on potential opportunities offshore Venezuela.