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

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.

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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.