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Chevron plans to double Venezuelan oil platforms
American company Chevron plans to double its oil exploration platforms in Venezuela to more than twice their current number, as part of its strategy to increase production involving investments exceeding $7 billion. The goal is to reach a production level of approximately 600,000 barrels per day by 2031. The company expects production to stabilize between 600,000 and 700,000 barrels daily for a period of 5 to 10 years, benefiting from the country's extensive oil resources. Additionally, Chevron has secured arbitration rights within its new contract after previous disputes led major companies like ExxonMobil to withdraw.
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