Venezuela has the largest oil reserves in the western hemisphere, and it is an important country for StatoilHydro.
We are operator of an exploration licence in Block 4 of the Plataforma Deltana field, and we have a 9.7 per cent stake in Petrocedeño, the most successful extra-heavy crude project in Venezuela.
We are investing in several projects aimed at ensuring and expanding our long-term presence in the country. Of these the most significant are:
Technology Transfer Program
In order to improve our long-term access to skilled labour in the country - particularly personnel with expertise in offshore gas exploitation - we have been investing in a skills-development and technology transfer programme since 2005.
Irapa Sustainable Fishing Project
We also support an impact-mitigating activity for fishing communities in the zone of influence of our Block 4 exploration operations.
