BREAKING NEWS

BREAKING NEWS

Total joins Venezuela in oil search

Now Reading:

Total joins Venezuela in oil search

Text size Aa Aa

France’s Total and Venezuela are to invest around 17 billion euros to develop an oil field in the country’s Orinoco region.

The project is part of Venezuela’s plan to greatly increase output in the next 10 years with the help of foreign investors. Total’s investment in the field will include the construction of an oil refinery to turn the very heavy, tar-like crude into exportable oil.