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المشهد العربي
Reastad Energy: Venezuelan oil recovery will take decades
Restad Energy company expects that the recovery of Venezuelan oil will take years, with production continuing for many years after a significant development since surpassing its previous peak of over 3 million barrels per day. Estimates indicate that production will reach 2.3 million barrels per day by 2035 and exceed 3 million barrels by 2050, with investments worth $85 billion needed by 2040, despite recent proximity to an American agreement to boost supply in the short term. This comes after the U.S. president announced a partnership with private companies to exploit Venezuela's massive oil reserves, with Washington controlling over half of the joint production to achieve strategic objectives.
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