In an announcement on Saturday, October 17, acting Venezuelan President Delcy Rodriguez said the agreement with the US concerning the 17 oil fields was part of a broader package comprising 61 agreements. She said the investments would directly benefit Venezuela and its partners.
Experts say the new investment agreements could help improve the country’s oil production capacity, increase output and strengthen the sector’s role in the national economy.
However, their actual impact will depend on the pace of project implementation, the ability to secure financing and efforts to overcome longstanding operational challenges in the oil industry.
