Chevron is planning to boost its oil production in Venezuela by adding at least two new oil rigs in the country, Reuters reported.
One of the sources told Reuters that the idea is to “drill two wells per month at the Orinoco [Belt].”
Chevron’s drilling plans, according to the report, would not require the United States to issue new licenses or approvals, as the areas involved by the proposal are already included in the license granted by the Biden administration in November. As a result, Reuters explained, Chevron either must “hire local contractors, whose access to modern equipment is limited, or await a modification to the U.S. oilfield firms’ licenses.”
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