00:00Venezuela's Action President El Cis Rodríguez led the signing of agreements with the multinational company Shell
00:06to launch the first phase of developing and exploiting the Loran Field.
00:11The Loran Field, as a non-associated natural gas asset, comprises seven reservoirs,
00:16six of which extend into the Republic of Trinidad and Tobago.
00:21During the meeting, five strategically significant instruments were assigned
00:25to enhance Venezuela's energy capacity for domestic consumption and export markets.
00:31Through these agreements, Venezuela has reformed its commitment to attracting investment from global partners
00:37and its capacity to execute projects that improve production efficiency and the sustainable management of resources.
00:53Today, we are taking a historic step.
00:56At least, that is how I see it.
00:59With the signing of this license for phase one of the development and exploitation of the Loran Field,
01:05which, as the minister has said, is a cross-border field that we share with Trinidad and Tobago.
01:13This license will enable Venezuela to take a very important step forward in its gas development
01:19and as a gas exporter.
01:23Since we began negotiations with Shell and other companies in the gas sector,
01:27we have said that we want to turn Venezuela into a gas exporter.
01:33With this signing, we are affirming that pathing a field that, it must be said,
01:38has lacked development for 23 years.
01:42That is why I step with the signing of this license,
01:47where we will able to utilize gas for export properly
01:52and where we, too, will reap great benefits for Venezuela.
01:56And where we, too, will also have great benefits for Venezuela.
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