Report summaryLa Concepción area was originally awarded as an Operating Service Agreement (OSA) in PDVSA's Third Marginal Fields licensing round in June 1997. The block contains two producing fields: La Concepción, an oil and gas field and Los Lanudos, a gas field that produced from the Eocene.In March 2006, the Venezuelan government converted the OSA into a joint venture company (empresa mixta) in which PDVSA took a majority share and control. Development work has been limited and ...
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