Venezuela has suggested the companies to begin development of 4 new gas fields.
State company Petroleos de Venezuela S.A. (PDVSA) has suggested private concerns to begin investigation and development of four new gas fields in the east of Venezuela. To participation in the transaction 36 companies, among which Chevron Corp., Exxon Mobil, Indian Oil and Natural Gas Corp., Chinese Sinochem, and also Russian Open Societies “LUKOIL” and Open Society “Gazprom” are invited.
Field reserves are estimated in 311.5 billion cubic meters. According to minister of oil of Venezuela Rafael Ramirez, PDVSA plans to 2010 enclose in prospecting project Delta Caribe 172 million dollars. PDVSA will belong from 30 up to 35% of stocks of each of gas fields. Licenses for investigation and development will be given by the end of November of 2006, and industrial production of gas will begin to 2012. In total PDVSA it is ready to invest more than 16 billion dollars, informs Associated Press.
In 2005 five licenses have been given out to the foreign companies, including Chevron and Brazilian Petrobras. PDVSA is measured to increase manufacture of natural gas in Venezuela. In territory of this South American country is located the largest fields on continent of “blue fuel”, however its manufacture does not satisfy its internal needs. It is planned to double gas recovery, which to 2012 should make 326 million cubic meters a day.
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