PDVSA to Drill First Offshore Well

Venezuela's state oil company PDVSA will drill its first offshore well before year-end, President Hugo Chavez said during his weekend talk show Alo Presidente, according to a statement from state news agency ABN.

The well will be drilled off the coast of Delta Amacuro state, according to the statement.

"PDVSA, not knowing the sea, has never drilled a well offshore," Chavez said. "This will be the country's first offshore well in 100 years of oil exploration."

PDVSA president and oil and energy minister Rafael Ramirez was in the audience and confirmed the information.

Chavez said "infinite" hydrocarbons reserves could be found in Venezuela's 760,000 km2 maritime territory, according to the statement.

In June, PDVSA awarded Norwegian firm SCAN Geophysical a contract to acquire 400km2 of 3D seismic data off the northwest coast of Venezuela, BNamericas previously reported.

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