Petrobras
Venezuela: No change of output with joint venture co with PDVSA
Petroleumworld
CARACAS
Petroleumworld.com
02 22 06
Raul Campos, executive manager of investor relations at Petrobras,
said Tuesday the migration to the joint venture company with Venezuela's
PDVSA as a mayority partner of its present Venezuela operation
will be neutral on the company's overall output levels in the
country.
The
new joint venture operation extended Petrobras existing operation
contracts for 25 years and open the option to a series of other
joint oil and gas projects with PDVSA, such as the Mariscal Sucre
natural gas project, where $2.2 billion in investments is needed,
and an extra heavy oil project in the Carabobo oil field in Venezuela's
Orinoco Faja basin.
"We expect to produce the same volume we
were expecting to produce before renegotiating the old contracts,"
Campos said at a conference call on fourth- quarter earnings.
"The old contracts had only eight years remaining."
Petrobras is still negotiating a final version of the new contracts,
Campos added.
Petrobras
produced an average of 41,638 barrels of oil a day in Venezuela
in January.
Petroleumworld
02 22 06
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