In November 2017, the Venezuelan Popular Power Petroleum Ministry (MinPetroleo) awarded state-run petrochemical company Pequiven a non-associated natural gas contract, covering the 86.53 sq km LL-652 Block. The award was made official via the publication of Official Gazette No 438.518. State oil producer PDVSA previously held the gas contract for the block. Petroindependiente, the mixed company that includes Chevron (25.2%) operates the LL-652 Field's oil contract. MinPetroleo said the non-associated gas award was two-fold, as the mature field's high natural gas content was impeding petroleum production. The award will also aid Venezuela in increasing natural gas production for the domestic petrochemical industry.
Venezuela, LL-652