New Orinoco Projects to Up Output 520,000b/d by 2012
Venezuela's state oil company PDVSA aims to produce an extra 520,000 barrels a day (b/d) at the Orinoco heavy crude belt by 2012, officials from the state firm's R&D unit Intevep told BNamericas.
The extra production would come from new E&P methods plus US$15.3bn in new investments as well as a breakthrough in technologies to update extra-heavy crude onsite to API grade 22 from API grade 8.
"We have some processes [for E&P] of a thermal nature that have to do with water injection which involves varying the processes to make them more efficient," Intevep president Hercilio Rivas said.
Intevep is field-testing the processes in two separate pilot projects, combining its findings with some of its proprietary E&P technologies, Intevep planning director Omar Uzcategui said.
In addition, Intevep is developing with France's R&D institute Axens a refining technology for heavy sour crude called HDH Plus.
Orinoco presently produces 500,000-600,000b/d.
Visit BNamericas to access our real-time news reports, 7-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.
Operates 14 Offshore Rigs
Manages 26 Offshore Rigs
- Algeria Sends More Oil To Cuba As Venezuelan Supplies Fall (Jan 10)
- Venezuela's PDVSA At Risk Of Losing Bonaire Terminal Over Maintenance Delay (Dec 19)
- Paralysis At PDVSA: Venezuela's Oil Purge Cripples Company (Dec 15)