Equinor and state-owned Petróleos de Venezuela (PdVSA) have completed a transaction whereby Equinor will transfer its 9.67% non-operated interest in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PdVSA company.
The Petrocedeño project aims to upgrade extra-heavy crude oil into lighter crude from the Orinoco Belt area (onshore Venezuela). As a result of this transaction, Equinor will no longer hold interest in Petrocedeño.
The transaction supports Equinor’s corporate strategy to focus its portfolio on international core areas and prioritised geographies where Equinor can leverage its competitive advantages.
Forecasts by Technology (Jackside & Topside Removal, Well Intervention Vessels and Systems, Cutting and Severing, Heavy Lift Technologies), by Structure (CT), Caissons, Mobile Offshore Production Units (MOPU), Well Protectors (WP), Subsea Templates (SSTMP)), by SSLNG Storage (Single Containment Tanks, Membrane Tanks, In-ground Tanks), by Technique (Well Plugging and Abandonment, Subsea Structure Decommissioning), by Removal (Partial Removal, Toppled in Place, Complete Removal), by Services (Project Management & Compliance, Materials Disposal, Site Clearance, Conductor & Power Cable Removal, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Decommissioning Companies AND COVID-19 Recovery ScenariosDownload free sample pages
TotalEnergies has also decided to transfer its interest in Petrocedeño to PdVSA, making the latter its sole owner.
Date: Jul 29, 2021
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