Rosneft, PDVSA mull development of 3 gas fields

Friday, August 4, 2017

Russian oil company Rosneft is reportedly considering the joint development of three Venezuelan gas fields in partnership with PDVSA.

The two companies are currently evaluating the feasibility of developing the three fields and could request the corresponding licenses, Sputnik News quoted the Russian company as saying on Friday.

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A feasibility study was completed in July for the development and fitting out of the fields on the Venezuelan continental shelf (Patao, Mejillones and Río Caribe), according to an agreement signed between both companies.

The Russian company was quoted as saying that "in the future, the two companies could request gas licenses from the oil and mines ministry."

Petrovictoria, the JV formed by Rosneft and PDVSA, started heavy crude production in June at the Carabobo 2 project in the Orinoco river belt, with an output of 800b/d via the CHV-02 well. PDVSA has a 60% stake in the JV.

Rosneft has a minority stake in various oil production projects in Venezuela in the Orinoco oil belt and in Boquerón and Petroperijá in Zulia state.