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Trump-Allied Continental Resources Signs Deal to Develop 30 Billion-Barrel Region In Venezuela

Continental Resources Signs Deal
International Business Times Fews App News Provider
Fews App Post Time há 18h

The agreement, announced Wednesday, allows Continental to develop the Ayacucho-2 block, an area spanning approximately 126,000 acres that contains an estimated 30 billion barrels of oil reserves, according to the company. Ronaldo Schemidt/AFP via Getty Images Continental Resources, the Oklahoma-based oil company founded by billionaire Harold Hamm, has signed a memorandum of understanding with Venezuela's state-owned oil company to develop and operate a major crude-producing region in the country's resource-rich Orinoco Belt. The agreement allows Continental to develop the Ayacucho-2 block, an area spanning approximately 126,000 acres that contains an estimated 30 billion barrels of oil reserves, according to the company.

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