PDVSA subsidiary CVP and Repsol YPF's Venezuela unit previously signed an MOU to request exploration permits for the field from the energy and oil ministry, PDVSA said in a statement. But Venezuela's national assembly must ultimately clear the operations, which would be carried out by PDVSA-Repsol YPF joint venture Petroquiriquire.
PDVSA has 60% of the JV to Repsol's 40%. When the plan to develop the field was first announced in early 2005, Repsol YPF told BNamericas that its Venezuelan production could jump to 160,000b/d from 100,000b/d, largely on Barua-Motatan output.
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