The extra production would come from new E&P methods plus US$15.3bn in new investments as well as a breakthrough in technologies to update extra-heavy crude onsite to API grade 22 from API grade 8.
"We have some processes [for E&P] of a thermal nature that have to do with water injection which involves varying the processes to make them more efficient," Intevep president Hercilio Rivas said.
Intevep is field-testing the processes in two separate pilot projects, combining its findings with some of its proprietary E&P technologies, Intevep planning director Omar Uzcategui said.
In addition, Intevep is developing with France's R&D institute Axens a refining technology for heavy sour crude called HDH Plus.
Orinoco presently produces 500,000-600,000b/d.
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