David Syed

Dentons counsels PDVSA on Repsol expansion

Dentons Europe has counselles Petróleos de Venezuela (PDVSA) on a transaction with Repsol Exploración, in connection with the expansion of Repsol’s oil production activities into the La Ceiba and Tomoporro oil fields.

This transaction, valued at approximately USD 1.7 billion, aims to strengthen production in Venezuela’s oil and gas sector, with the objective of contributing to the country’s economic recovery. 

PDVSA is the national oil company of the Bolivarian Republic of Venezuela and Repsol is a Madrid-listed oil company present throughout the energy value chain, from oil and gas exploration and production to the commercialisation of energy solutions for home and mobility, with a presence in 23 countries.

Dentons’ team was led by partner David Syed (pictured), together with senior counsel Ramu Ramaswamy in Europe, with support from members of the sovereign advisory practice in Caracas.

L Giselle Estrada