Washington will not renew a reprieve issued to Caracas for oil and gas activities, accusing the Maduro regime of reneging on a commitment to upholding fair elections.
The company's latest Ringhorne North exploration well was successful with estimated recoverable resources of between 13 million and 23 million barrels of oil.
'U.S. sanctions on Iran had greatly impacted reported volumes in 2018-20, but such volumes appear to have been brought back online,' a Senior Associate at Enverus Intelligence Research told Rigzone.