Chavez, Kirchner Launching Ayacucho 6 Drilling

Venezuela's President Hugo Chavez and his Argentine counterpart Nestor Kirchner will launch drilling on the Ayacucho 6 block in the former country's Orinoco extra-heavy crude belt, Venezuela's state oil company PDVSA said in a statement.

Drilling will focus on the MFD-29E well in the area of MFD-AJ (A604), according to PDVSA. Ayacucho 6 covers 477 sq km some 95km from San Tome in Anzoategui state.

The project is part of Venezuela's Magna Reserva reserve assessment plan PDVSA is performing with partners. PDVSA and Argentina's state hydrocarbons company Enarsa aim to certify 21Bb of reserves at Ayacucho 6.

Orinoco boasts estimated reserves of 235Bb crude.

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