Shell (SHEL) is wrapping up survey work at Venezuela's offshore Dragon field before a US deadline to cease activities tied to expiring energy licenses, Reuters reported Monday, citing people familiar with the matter.
A survey ship registered in Colombia began gathering marine data this month on behalf of Shell and Trinidad's National Gas Company, the media outlet reported. The collected data will reportedly help identify possible drilling zones and pipeline configurations if US authorities later permit development of the gas project.
The US government recently revoked a 2023 authorization that had allowed Shell and NGC to assess the Dragon site, giving them until May 27 to conclude operations, Reuters reported.
Shell did not immediately respond to MT Newswires' request for comment.
(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.)
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