America's second-largest oil company has announced it will develop two additional oil fields in Venezuela's Orinoco Belt, more than doubling its output in five years, in a deal worth $7 billion.
The joint venture between Chevron and Petroindependencia, in which Chevron has a 49% stake, will develop two greenfield sites near existing work and lift output to around 600,000 barrels per day, according to a company press release.
