Market Chatter: Shell Sets in Motion Process to Progress Venezuela's Dragon Offshore Gas Project

MT Newswires Live16:59

Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported Tuesday, citing two people familiar with the process.

The contract is expected to be awarded by the end of September, the people told the news agency, if a positive final investment decision is made for the 4.2 trillion-cubic-foot development.

Shell did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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