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Venezuela sanctions offshore gas project

Venezuela's urgent need to exploit its gas resources seems to be outweighing President Hugo Chávez's dislike of Western firms

The government has given Chevron approval to proceed with what would be the country's first offshore gas production. Last month, the government said exploration in the Plataforma Deltana project in the Orinoco delta by Chevron and state-owned PdV's gas subsidiary had found enough gas to warrant a production programme. The firms, which signed an exploration agreement in 2003, are expected to start production from Block 2 in 2013, according to the country's Official Gazette. The project covers fields with proved gas reserves of around 7 trillion cubic feet (cf). This follows a lengthy hiatus since the exploration programme on Block 2 was completed in 2007. PdV did not want to proceed with pro

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