The Venezuelan leader acknowledged the deterioration during an announcement of an investment agreement with Shell
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The leader of the Venezuelan transitional regime, Delcy Rodríguez, publicly acknowledged the abandonment of the Loran gas field for 23 years, admitting the structural deterioration accumulated during the administrations of Hugo Chávez and Nicolás Maduro in one of the country's strategic sectors.
The acknowledgment came as part of the announcement of an agreement with Shell, to which the Venezuelan regime granted a license to begin the initial phase of exploration and exploitation of the deposit.
The Loran-Manatee field, located in the Deltana Platform, has estimated reserves of up to 10 trillion cubic feet of natural gas and represents one of the most relevant energy assets of Venezuela.
During the official event held in Caracas, Rodríguez stated: “Today we are taking a historic step. I consider it so. With the signing of this license for phase number 1 of the development, the exploitation of the Lorán field.”
The leader also highlighted the impact of the agreement by stating that “it is a license that will allow Venezuela to take a very important step in its gas development and also as a gas exporter.”
However, the most significant detail of her speech was the confirmation of the prolonged abandonment of the project. From the Miraflores Palace, Rodríguez explained that the field remained abandoned “for 23 years,” which implies a direct acknowledgment of the lack of investment in the energy sector during more than two decades of Chavista governments.
The signing of the agreement with Shell
The project includes seven deposits, of which six are shared with Trinidad and Tobago, giving it a strategic character both regionally and internationally.
The license granted to Shell enables the start of Phase I of the development, in an attempt to reactivate production and position Venezuela as a gas exporter.
At the same event, the Executive also signed agreements for the “integral development of the Carito and Pirital production units,” located in the Punta de Mata division, in the state of Monagas, reinforcing the strategy to reactivate the energy sector.
Rodríguez also stated that the license will allow for a “proper utilization of gas for export,” while describing the alliance with the multinational as a significant advance for the country.
The case of the Loran field adds to the structural deterioration of key areas in Venezuela during the Chavista governments, including basic services, infrastructure, and the electrical system, problems that have affected millions of citizens for years.
