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Venezuela grants 100-year concessions for 17 oil fields to NABEP
The White House said the interim authorities awarded NABEP long-term access to 17 oil fields as part of Venezuela-U.S. energy cooperation.
Venezuela’s interim authorities have granted 100-year concessions for 17 oil fields to North American Blue Energy Partners, according to the White House, as reported by CNBC Markets.
CNBC World said the concessions were awarded through the Venezuelan side of the arrangement, with the U.S. government describing NABEP as U.S.-backed.
The development expands NABEP’s long-term role in Venezuela’s oil sector through the multi-decade concession terms for the 17 fields.
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