Venezuela’s Acting President Delcy Rodriguez has signed a memorandum of understanding (MoU) with French oil and gas company TotalEnergies, according to local media.
The agreement was signed on Saturday, September 19, as Venezuela’s new government continues efforts to attract international oil companies and expand cooperation in the country’s energy sector.
The deal is the latest in a series of agreements between Venezuela and multinational oil companies following the U.S.-backed removal of former President Nicolas Maduro in January.
However, details of the agreement, including the projects involved, investment value and production targets, were not immediately disclosed.
Rodriguez had earlier signed cooperation agreements with Suriname covering areas including hydrocarbons, education, tourism, agriculture and political affairs.
Reuters reported that the TotalEnergies agreement marks another step in Venezuela’s efforts to strengthen its oil industry through partnerships with major international energy companies.
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