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VENEZUELA: Plans for proposed $2,000,000,000 offshore gas field development project, CHEVRON...

PROJECT OVERVIEW:

US-based CHEVRON TEXACO recently declared that it was planning to invest $2,000,000,000 in Venezuela. As a result, the company is proposing to develop a natural gas field off the coast of Venezuela.

In so doing, CHEVRON TEXACO reportedly signed agreements to explore and produce Block 2 in the waters in the northeastern Deltana region bordering fields in gas rich Trinidad and Tobago. Accordingly, gas output is eventually expected to be sold into a regassification terminal in the Gulf of Mexico.

CHEVRON TEXACO employs a total sta

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