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Market Chatter: Venezuela Ready to Sign Oil Deals, Minister Tells Houston Investors

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Venezuela is seeking private investment to boost crude production and plans to offer production-sharing contracts to revive output from the world's largest oil reserves, Bloomberg reported on Wednesday, citing Oil Minister Paula Henao.

Speaking to investors at a conference in Houston on Wednesday, Henao said that 916 areas across the country are currently available for exploration and production.

Though Venezuela is globally renowned for its heavy oil belts, she emphasized that significant opportunities also exist for light and medium crudes, as well as natural gas.

Venezuela this week signed agreements with oil-field services giant SLB (SLB) and independent producer Hunt Oil as part of efforts to attract capital and expertise to its energy sector.

PDVSA did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $53.20, Change: $-0.01, Percent Change: -0.02%

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