What specific projects did Venezuela and Shell agree to advance in their five new agreements?

Venezuela and Shell signed five agreements to advance oil and gas projects, including Shell's participation in the Loran offshore gas field (a 7-trillion-cubic-feet reservoir extending into Trinidad and Tobago's waters), a technical alliance for procurement and output expansion at oilfields in Monagas North, and a separate pact to buy equipment and parts to reduce gas flaring.

How does Shell's renewed involvement in Venezuela relate to the country's changing energy investment landscape?

Shell is one of the few foreign companies taking early advantage of Venezuela's new energy investment opportunities following the U.S. capture of President Nicolas Maduro, having previously signed preliminary agreements earlier in the year before finalizing these five pacts.

Venezuela moves pacts forward with Shell, including Loran gas field

Jun 11, 2026

Venezuela signed five agreements with Shell to advance oil and gas projects, securing participation in the 7-trillion-cubic-feet Loran offshore gas field alongside BP. The deals include technical alliances for output expansion and equipment procurement to reduce gas flaring.

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