Shell to Complete Marine Survey at Venezuela Gas Field Ahead of License Cancellation

Oil and gas group Shell plans to complete a marine survey at Venezuela's offshore Dragon gas field before a U.S.-set May deadline to wind down all licenses related to energy projects in the country, sources close to the preparations said.

Colombia-flagged survey vessel Dona Jose II arrived in U.S.-sanctioned Venezuela this month to gather data for Shell and Trinidad's National Gas Company, according to LSEG vessel monitoring data.

The exploration work, to be completed in the coming weeks, will allow the company to determine drilling locations and pipeline design should Washington eventually allow the project's development, planned to provide gas to Trinidad, the two sources added.

The vessel had been chartered by Shell when U.S. President Donald Trump's administration earlier this month announced the cancellation of a license it granted in 2023 to plan and develop the Dragon field. Shell and NGC were given until May 27 to wind down operations in Venezuela.

Since Washington first imposed energy sanctions on Venezuela in 2019, U.S. licenses are needed for foreign companies to negotiate, plan and develop oil and gas projects with state-owned company PDVSA.

Shell, NGC and PDVSA did not immediately reply to requests for comment.

Trinidad is Latin America's