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  • PDVSA and StatoilHydro signed agreements to quantify and certify reserves in Junin 10 Block
    édité le 28/01/2008 - Plus de news de "PDVSA" - Voir la fiche entreprise de "PDVSA"

PDVSA and StatoilHydro signed agreements to quantify and certify reserves in Junin 10 Block
The People’s Minister for Energy and Petroleum and president of Petroleos de Venezuela S.A. (PDVSA), Rafael Ramirez, and StatoilHydro’s executive director, Helge Lund, signed two agreements to quantify and certify the reserves contained in reservoirs of the Junin 10 Block, located in the Orinoco Oil Belt.

Both companies agreed to carry out a joint study on the aforementioned Block, which is located in Anzoategui state and covers an area of 593 square kilometers. This agreement will be valid for three years starting on this date.

The parties also signed an agreement to create a Guiding Committee to supervise and manage all activities performed by a Work Group which will be responsible for carrying out such joint study.

By signing these instruments, StatoilHydro ratifies its interest in keeping productive alliances with PDVSA, as well as in expanding its business in our country respecting Venezuela’s current legal framework.

The Orinoco Oil Belt’s new approach envisages the implementation of the Orinoco Magna Reserva Project to quantify 316,000 barrels of existing crude. This Project will be carried out through the incorporation of joint venture companies composed of state-owned companies from different countries, and it will turn Venezuela into the country with the largest oil reserves in the world.

Origine : Communiqué PDVSA

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