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XRG enlarges Latin America reach via Laurent Field
XRG, the investment arm of ADNOC in the energy sector, announced its entry into the Venezuelan market through acquiring a stake in the offshore Lorán field concession, following the completion of regulatory approvals. The concession contains proven resources exceeding 4 trillion cubic feet of gas and involves partners such as BP and UCC. This move is part of XRG's efforts to strengthen its position as a gas supplier in Latin America and to responsibly and sustainably invest in Venezuelan gas resources to support regional and international energy demand. It represents a strategic expansion that enhances the company's capabilities in the gas market and underscores the significance of Venezuela's substantial resources for the region.
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