Caracas, Feb 7 (Prensa Latina): The Orinoco Belt is increasingly important in the Venezuelan oil sector, supported by the discovery of a field with reserves estimated at 300 million barrels in the Bloc Six of Ayacucho field, in the Anzoategui state.
Joint works carried out by companies "Energia Argentina S.A." (ENARSA) and state "Petroleos de Venezuela S.A." (PDVSA) allowed the finding, as part of projects that have been implemented in the Belt by foreign enterprises in association with the local corporation.
The Argentinean firm has worked since 2006 in the mentioned bloc, exploring and quantifying crude oil stocks through an accord signed between the two countries and includes drilling of at least five wells.
According to analysts of the industry, the next step is to determine processes for exploiting the field and distributing resources between the two companies.
Once the quantifying and certifying processes conclude in the Orinoco Belt, reserves approved from the country will reach 316,000 million barrels. If that aspiration becomes a reality, Venezuela will lead the world in volume of crude oil stocks.
The PDVSA plan in the zone includes an investment close to $16 billion in the 2006-2012 period, for which the zone was divided into 27 blocs with the participation of companies like Petropars (Iran), Petronas (Malaysia), Repsol (Spain), Gazprom and Lukoil (Russia). The aim is to turn the Orinoco Belt into a main source of the nation's economic, social, industrial, technological and sustainable development.
http://www.plenglish.com/article.asp?ID={955AC46B-52CD-414A-BAC7-C1AF4DF09A5B}&language=EN
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