Upstream

Equinor energy transition bullish: completes divestment of onshore asset in Venezuela


Published: Friday July 30, 2021
By: Oilfield Africa Review
Equinor and state-owned Petróleos de Venezuela (PdVSA) have completed a transaction whereby Equinor will transfer its 9.67% non-operated interest in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PdVSA company.
 The Petrocedeño project aims to upgrade extra-heavy crude oil into lighter crude from the Orinoco Belt area (onshore Venezuela). As a result of this transaction, Equinor will no longer hold interest in Petrocedeño.

The transaction supports Equinor’s corporate strategy to focus its portfolio on international core areas and prioritised geographies where Equinor can leverage its competitive advantages.

TotalEnergies has also decided to transfer its interest in Petrocedeño to PdVSA, making the latter its sole owner.

Sponsored Partners

Discover our premium partners and explore their innovative solutions in the industry

Company News
Woodside to Explore Strategic Collaboration Across LNG Value Chain
Wednesday July 9, 2025
Côte d'Ivoire
Côte d’Ivoire Sets Ambitious Domestic Gas Utilization Road Map
Wednesday July 9, 2025
Mozambique
Samsung Heavy to Build an Offshore Production Facility in Africa
Tuesday July 8, 2025