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Story summary
- PDVSA and Continental Resources agreed to develop the Ayacucho 2 Block in the Orinoco Belt.
- The block covers about 126,000 acres in Anzoátegui and contains 30 billion barrels of oil.
- Continental will operate the block with 100% interest after signing a long-term production agreement.
- Venezuelan Vice President Delcy Rodriguez said the deal could generate over $200 billion.
- CEO Doug Lawler called Ayacucho 2 one of Continental's most significant opportunities in its nearly 60-year history.