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الاقتصادية
UAE's XRG Moves into Venezuela
The company "XRG," the investment arm of "Adnoc" in the energy sector, announced that it has acquired a stake in the offshore "Lauran" field concession in Venezuela, which contains proven resources exceeding 4 trillion cubic feet of gas. This investment is part of the company's strategy to strengthen its presence in Latin America and support its position as a major gas supplier. Venezuela possesses the largest proven oil reserves in the world, estimated at 303 billion barrels, with a significant concentration in the Orinoco Belt. However, its low oil production of around 1.08 million barrels per day reflects challenges related to investment and infrastructure. The entry of "XRG" into Venezuela presents an opportunity to better capitalize on these reserves, with the potential to boost production and achieve long-term economic benefits, especially amid government initiatives to develop resources and modernize the infrastructure of the oil and gas sector.
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