Maha Energy

During the Mesas Técnicas, topics to be discussed include infrastructure needs, suitable wells for redevelopment, production techniques and capital and operational expenditure estimates. The re-development plan will also serve as the foundation for forming a project team and determining social, environmental and personnel requirements.

“I am very pleased with this new important step in our establishment in Venezuela. Soon, we will have a clear roadmap for our future operations in the country. I look forward to sharing more details about the development plan as it progresses,” says Kjetil Solbraekke, CEO of Maha Energy.

The acquisition of indirect equity interest in the Venezuelan oil company PetroUrdaneta from Novonor Latinvest Energy continues to remain subject to certain milestones.

Maha continues to closely monitor the political developments in Venezuela, as well as liaising with the relevant stakeholders. As with all of its engagements, with respect to its activities involving Venezuela and PetroUrdaneta, Maha remains committed to compliance with all applicable laws and regulations, robust due diligence and transparency in its activities. This includes discussions and/ or request for licenses from relevant authorities.