New Orinoco Projects to Up Output 520,000b/d by 2012

Venezuela's state oil company PDVSA aims to produce an extra 520,000 barrels a day (b/d) at the Orinoco heavy crude belt by 2012, officials from the state firm's R&D unit Intevep told BNamericas.

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.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.


Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours