Bloomberg: Qatar-based UCC Oil and Gas Holding is negotiating to take over two onshore oil and gas fields in Venezuela and Jipín, in the state of Monaghans.
Venezuela's state oil company PDVSA is already cooperating with UCC in the fur field, where the Qatari company is expected to make a significant investment in infrastructure.
The expansion will build on UCC's existing involvement in Venezuela's offshore Lorraine gas project, where it is partnering with BP and Abu Dhabi XRG.