The French company Maurel & Prom enters to Pdvsa PetroRegional del Lago company, informed on Monday the People’s Power Minister for Petroleum and president of Petroleos de Venezuela (PDVSA), Manuel Quevedo.

“We welcome the year 2019, and with it we are receiving the company Maurel & Prom which is entering the PetroRegional del Lago Company, fulfilling the instructions of the President Nicolás Maduro Moros, to increase oil production, we are welcoming this company of French origin and capital”, said the head of this office in joint statements with Michel Hochard, general director of the French company.

Quevedo said that this company will participate with Pdvsa with 400 million dollars in investment, to increase production in Lake Maracaibo.

“Within our plans we are inviting foreign capital, to keep investing with PDVSA; PDVSA retains 60 percent of the capital in PetroRegional del Lago and we welcome Maurel & Prom”, said Minister Manuel Quevedo.

Accompanied by Michel Hochard, general director of the company Maurel & Prom, “who has signed along with us, in PDVSA and in the People’s Power Ministry for Oil, all the agreements that ensure the immediate start of the necessary investments to initiate the operative and administrative management that assures the increase of the oil production up to 70 thousand barrels per day”.

That is the plan – he continued – we are announcing to our beloved Homeland and is immediately implemented. “Pdvsa starts, the oil industry starts, the Bolivarian Government, 2019, the year of economic growth, the year of prosperity”, he said.

For his part, the French businessman indicated about the vision and participation, stating that his team “is extremely apt to collaborate, thanks to the instructions of the President of the Republic and the minister, in this project. We have a great responsibility, but we are also willing to worth the great confidence that has been placed in us”.

Hochard explained the greatest of the disposition when declared: “We want to collaborate along with our Venezuelan partners in this joint enterprice that is rising and that will allow us to develop this project together”.

He indicated that this will be possible thanks to the capacity of the teams participating in this project and the motivation and support of the joint enterprice that will work in this initiative.

“This year 2019 begins for us in a very optimistic way with the best of auguries, we are confident of being able to count on the support and success of this new company”, Hochard said.


People’s Power Ministry for Foreign Relations of Venezuela