PDVSA to Spend US$1.62bn to Upgrade Zulia E&P

Venezuela's state oil firm PDVSA will spend 3.5tn bolivares (US$1.62bn) to upgrade E&P operations in Zulia state, newspaper El Universal reported.

The investment will help upgrade equipment, half of which is not working properly, the paper said, citing an audit.

"We already recovered flow stations Lagunillas, Bachaquero C and Lana 4," the paper quoted, PDVSA western division manager Ricardo Coronado as saying. The stations collect and pump crude that comes from Maracaibo lake fields.

PDVSA also has collected more than 500t of scrap metal and has replaced 5,000km of pipeline from inside and around the lake as part of its upgrade efforts.

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