Petroquiriquire's license is for the Quiriquire Profundo area (93.2 sq km) in Monagas state and Petroguarico's is for the Copa Macoya area (290 sq km) in Guarico state.
Quiriquire Profundo's potential output is estimated at 280Mf3/d (7.93M3m/d) and 120Mf3/d of gas is produced in Copa Macoya, the statement said.
The licenses authorize production from existing reserves as well as the search for new reserves in the areas for 20 years.
The companies will pay the government a 20% base royalty on non-associated natural gas production.
Spain's Repsol YPF (NYSE: REP) controls 60% of Petroquiriquire and PDVSA Gas the remainder, while Japan's Teikoku holds 70% of Petroguarico and PDVSA Gas the balance.
Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
Most Popular Articles
From the Career Center
Jobs that may interest you