Venezuela and British company BP sign agreement to expand gas exploration

Venezuela and British energy company BP signed an agreement aimed at exploring gas fields off the coast of the oil-producing country. The deal formalizes the launch of gas development at Cocuina‑Manakin, which extends from Venezuela’s inactive Deltana platform project into Trinidad.

It was expected to explore joint opportunities in the offshore Loran gas area under a new memorandum of understanding with the Venezuelan government. Venezuela’s interim president Delcy Rodriguez said the agreement represents a milestone for the national energy industry by reactivating the multinational’s presence in key areas of the Deltana platform.