It's to the benefit of both nations to maximize the value of the resource. I am confident that Venezuela and Trinidad and Tobago will reach an agreement.
Ali Moshiri
Our objective is in line with what their objective is.
With a company like Chevron being in Venezuela for over 60 years, we are committed to Venezuela.
company
This is a normal process. It's like a normal tax audit by the IRS.
process normal tax
In the next five years we will most likely spend.5 billion to billion in Brazil on development. We will be creating a footprint that is very strong.
strong development creating
We're very close to a final decision. In 2008, initial production should start.
decision start close
We're drilling three new wells in offshore Colombia to add capacity.
The decision is made, but since it's such a big project, it has to go through the formal process. The way the market is for equipment and drilling rigs, we are going to work everything simultaneously.
work decision process market made big project
nations confident benefit agreement
What the minister has signaled is increased capacity and paying royalty from incremental production.
royalty
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