PDVSA, IFP to Develop Orinoco, Offshore Software


Orinoco Heavy Oil Belt
(Click to Enlarge)
Venezuela's state oil firm PDVSA and France's state-controlled oil think tank IFP will develop software to help perform E&P in offshore areas plus the Orinoco extra-heavy oil belt, PDVSA said in a statement.

PDVSA VP of E&P Luis Vierma and IFP president Jean Burrrus signed the development deals.

The two agreed to finish developing offshore basin-modeling software dubbed Temis Plus Plus and develop a software called FIRST to help develop the Orinoco belt.

FIRST "will be a fundamental tool for developing Orinoco oil belt deposits, where we are challenged with increasing the recovery factor to 8% from 20%," Vierma said in the statement, without specifying how the software would work.

Visit BNamericas to access our real-time news reports, 10-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.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
United States Houston: Marketing Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
Designer, Gas & Electric Distribution (Associate - Senior) Job
Expertise: Design Engineer|IT - SAP / ERP|Supply & Distribution
Location: St Cloud, MN
 
Design Supervisor Job
Expertise: Design Engineer
Location: Eau Claire, WI
 
search for more jobs

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours