Acting President Delci Rodriguez said on Saturday that the country expects the oil and gas industry to attract nearly 76 billion US dollars in investment over the next five years, and Venezuela is actively introducing private capital to boost energy production. The acting president said that the government has signed 61 cooperation agreements based on the revised oil and gas framework, and another 44 are under negotiation. Rodriguez said that related projects will integrate foreign investment, local Venezuelan capital and labor. The planned investment will create more than 324,000 direct, indirect and derivative jobs, she said. Rodriguez also mentioned that after oil production increases in Zulia, the state is expected to produce liquefied petroleum gas to meet domestic demand first and then export it later.

Acting President Delci Rodriguez said on Saturday that the country expects the oil and gas industry to attract nearly 76 billion US dollars in investment over the next five years, and Venezuela is actively introducing private capital to boost energy production. The acting president said that the government has signed 61 cooperation agreements based on the revised oil and gas framework, and another 44 are under negotiation. Rodriguez said that related projects will integrate foreign investment, local Venezuelan capital and labor. The planned investment will create more than 324,000 direct, indirect and derivative jobs, she said. Rodriguez also mentioned that after oil production increases in Zulia, the state is expected to produce liquefied petroleum gas to meet domestic demand first and then export it later.