Perla gas output now flowing to Venezuelan market - PDVSA

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Monday, August 3, 2015

Venezuelan national oil company PDVSA began transporting natural gas from the offshore Cardón IV block to the internal market, state media reported.

Production launched last month at Cardón IV, a 50-50 joint venture between Repsol and Eni.

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Through planned investment of US$6.6bn, gas production at Cardón is expected to reach 1.2Bf3/d (34Mm3/d) by 2020, supplemented by 28,000b/d of condensate.

The project's first phase involves a platform located 67km offshore that is connected to six wells. Gas output is transported via pipeline to an onshore treatment plant.

Gas output from Cardón IV is expected to reach 450Mf3/d by the end of this year, PDVSA said, with 300Mf3/d going to the petrochemical sector and 150Mf3/d to thermoelectric power generators.

Gas supplies from Cardón IV will displace 50,000b/d of diesel consumption by the electric power sector, PDVSA said.

Cardón IV contains the Perla gas field, the largest offshore gas discovery in Latin America, which contains an estimated 17Tf3 of gas resources.

The Cardón IV news follows the launch of works on PDVSA's US$834mn Puerto La Cruz refinery deep conversion project, which PDVSA said will allow the refinery to increase diesel production to 72,000b/d from 38,000b/d, and jet fuel production to 35,000b/d from 10,000b/d.

A consortium comprising China's Wison Engineering and Korea's Hyundai was awarded the US$834mn contract for the upgrade, which PDVSA said will maximize the refinery's ability to process heavy oil from Venezuela's Orinoco belt.

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