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The agreements are among the first big expansion deals since the U.S. launched a $100 billion reconstruction plan.
Chevron increased its stake in the Petroindependencia joint venture from 35.8% to 49%.
KEY POINTS
- Chevron swapped its stake in the Loran offshore gas field and a small oil project for Ayacucho 8.
- These are among the first major expansion deals since Venezuela's oil law reform in January.
- Shell is expected to sign a deal to jointly develop the Loran gas field with Trinidad's Manatee field.
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