Venezuela watch: Offshore well, heavy crude tech, gasoline subsidies

By
Tuesday, August 5, 2014

During initial testing, the DR 9 offshore gas well produced at a rate of 25.8Mf3/d (730,575m3/d) at a 5/8-inch choke, Venezuelan state oil firm PDVSA said in a release.

DR 9 is the third well to be tested in the Dragón offshore gas field. Dragón is part of the Mariscal Sucre offshore project which includes the Patao (non-associated gas), Mejillones (wet gas) and Río Caribe (condensate) fields.

Start your 15 day free trial now!

cta-arrow

Already a subscriber? Please, login

PDVSA expects the Mariscal Sucre project to eventually produce up to 1.2Bf3/d of natural gas and 28,000b/d of condensate, the release said.

***

PDVSA R&D arm Intevep has begun the commercial launch of HDH Plus technology at the Puerto La Cruz refinery in Anzoátegui state, a PDVSA release said.

The technology aims to increase Puerto La Cruz's gasoline output by improving its processing of extra heavy crude.

***

PDVSA commerce and supply director Sergio Tovar urged the public to adopt a more responsible approach to gasoline use, a PDVSA release said.

Venezuelans typically pay gasoline prices of US$0.04/l, while other nations pay up to US$10/l, Tovar pointed out.

Tovar's comments could indicate a new push to reduce gasoline subsidies. This month Venezuela reduced electricity subsidies for heavy users.

BNamericas will host its second LatAm Oil & Gas Summit in Houston, Texas, on September 10-11. Click here to download the agenda.