Shell (SHEL) Chief Executive Wael Sawan said he sees the company's competitive advantage in Venezuela in gas rather than in heavy oil, and the company will continue to seek other opportunities in the country, Reuters reported Tuesday.

In June, Shell signed five agreements with Venezuela to advance oil and gas projects, including participation in the Loran offshore gas field, the report said.

Shell did not immediately respond to a request for comment from MT Newswires.

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