PDVSA begins exploratory drilling in Guayaquil gulf
Bnamericas Published: Friday, June 26, 2009
Venezuela's state oil company PDVSA on Friday began exploratory drilling in Ecuador's Guayaquil gulf, the latter country's state oil company Petroecuador announced. Results from exploration well Puna 1 in block 4 aim to confirm gas and oil reserves based on previous seismic work carried out by Petroecuador's production subsidiary Petroproducción and private companies. PDVSA is using drill rig Corpoven 23 to carry out the work which is due to take close to three months. The rig arrived in the country last July as part of an agreement with Petroecuador and has already drilled six wells in the Amazon. Puna 1 will be drilled to a depth of up to 3km, BNamericas reported previously. EDC, a subsidiary of Houston-based Noble Energy (NYSE: NBL), is the only company that currently produces natural gas in Ecuador. Output from block 3 supplies the Machala thermoelectric plant.
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