Earlier this year Venezuela's state oil firm PDVSA said up to seven new offshore blocks could be offered in eastern Venezuela for gas E&P this year. No schedule has been announced yet for the concession process.
Shell has been busy transforming its operating agreement with PDVSA into a joint venture, Rooney said, "but having left that behind we can commence negotiations."
Last year Shell had contact with the government regarding Shell's desire to apply a technology it developed in Canada to an Orinoco heavy-crude project.
Shell's Urdaneta field, in oil Zulia state, is currently producing 43,000 barrels a day of medium crude, according to the report.
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