Pluspetrol Finds Gas in Tiznado, Barbacoas

Argentine hydrocarbons company Pluspetrol has found gas in two adjoining properties in central Venezuela's Guarico state, where it is performing E&P, company and government officials told BNamericas.

"They found gas in Tiznado and Barbacoas - dry gas, which is very desirable in terms of quality," Venezuela's natural gas regulator Enagas president Jorge Luis Sanchez said.

As a result, the company will not have to dehydrate the gas, a costly process. There were some concerns when E&P started in the two areas that a dehydration plant would be needed.

Tiznado could hold 1 trillion cubic feet and produce 200 million cubic feet a day for 15 years, according to preliminary government figures.

Sanchez said it is still too early to say exactly how much gas is there.

Pluspetrol confirmed the news on Wednesday afternoon.

"Yes, that is the case, gas was found in both deposits," said a Pluspetrol official in Caracas, who requested anonymity.

E&P at Tiznado and Barbacoas began five weeks ago during a high-profile ceremony attended by PDVSA director Bernard Mommer, PDVSA's CVP unit president Eulogio del Pino and Sanchez himself as well as Pluspetrol brass from Argentina.

Company and government officials said at the time if commercial amounts of gas were found, a thermo generation plant would most likely be installed to canalize early production since PDVSA pipelines are two years away.

Venezuela could buy into the venture once commerciality is declared, Mommer said.

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