00:00Venezuela is an incredibly good example of one of those choices that we did make
00:06to invest and to grow our investment because it had the trifecta. It had long
00:11duration growth possibilities, it was a low-cost operation, three low-cost
00:16operations and higher returns. So those three things came together to give us
00:20confidence that we could grow our investment in Venezuela. We have three
00:24operating joint ventures today. When we got these new terms and additional
00:28acreage it made the outlook for Venezuela compete with everything else that we
00:32had in the portfolio. Venezuela rose to the top of the opportunities that we had
00:38and that give us comfort that we could grow and grow profitably and grow
00:42successfully. We'll double production over the next five years that will require
00:46gross seven billion dollar of commitment and what we unlock at a gross level is
00:51roughly nine billion barrels of commercial reserves. So really really promising.
00:56What timeline do you expect to unlock those nine million barrels? But that's over the
01:00course of the next five years. And that's just really the beginning in
01:04Venezuela because there's a lot more that could be built from there.
