USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

-0.27

Natural gas 2.801

-0.01

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Ramirez Created Gas Project

Venezuela's energy and oil ministry is likely to call for bids this month

Ramirez Created Gas Project

Venezuela's energy and oil ministry is likely to call for bids this month on 10 natural gas exploration and production licenses in the Gulf of Venezuela, Rafael Ramirez said.

Ramirez, Venezuela?s energy and oil minister and president of state oil firm PDVSA created a project called Urdaneta, which includes 32 fields in the Gulf of Venezuela, but initially the ministry will only call for bids on 10 licenses to explore and produce natural gas.

The ministry had planned to launch the tender this month, but the minister declined to disclose an exact date for the process to begin. "Soon we will announce a date, it could be this month, February is not gone yet," he said.

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