OREANDA-NEWS. During a press conference at the facilities of Petroleos de Venezuela, S.A. (PDVSA) in La Campina, this Monday 27th, Ali Moshiri, president of Chevron for Latin America and Africa, stated that the American company maintains a commitment to work jointly with the Venezuelan state company.

“Chevron has a long relationship in Venezuela, we've got a major project here and we're going to continue to work hard. We will continue to collaborate and cooperate with PDVSA. We believe that the resources that there are in Venezuela are significant enough that we'll be able to increase the production no just in our current project but also in the future projects”, said Moshiri.

The president of Chevron for Latin America and Africa expressed his satisfaction for the signature and the discussion of important agreements with Venezuela. “We're very glad we signed this agreement to provide funding for Petroboscan… we continue to work on Plataforma Deltana and also on Petroindependencia”, stated Moshiri.

The agreement has as an objective to boost production at the joint venture Petroboscan, in operation in the Boscan field, located in Zulia state in western Venezuela.

In regards to the agreement signed by both oil companies which provides for a 2 billion dollar financing line, Moshiri said that it will allow them “to increase the production in Boscan”. It will also allow them to build facilities so that they reach “the next level of opportunity… above the current capacity of the field”.

“This is a very normal process, two companies work together to provide financing. We believe that this financing… is going to enhance field recovery therefore it's good for everyone. Again, we're very glad that we can work together, we have worked together in the past, and we're going to work in the future”, stated the president of Chevron for Latin America and Africa.

Finally, Moshiri stressed that the presence of Chevron in Venezuela is based on business and they always have in mind the well-being of the Venezuelan people. He said: “We are expecting that this agreement is going to create jobs, is going to create opportunity not just in Petroboscan and also in other parts of Venezuela because this is a huge investment…”