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Venezuela: Four new gas licenses in addition to operational agreement to be awarded
El Universal
CARACAS
Petroleumworld.com 03 27 06Four new licenses for natural gas operations, annexed to some of the fields that will become joint ventures, will be granted soon, Rafael Ramírez, the Minister of Energy and Petroleum and head of state oil giant Petróleos de Venezuela (Pdvsa,) reported.
The grants cover areas containing both oil and gas. Private administrators of the operational agreements had refrained from developing the natural gas reserves on the site for a number of reasons, including the absence of a legal framework or small profitability.
Based on the grants, these areas will fit in the Gas Hydrocarbons Organic Law and start to provide the resource, presently with a deficit of 500 million cubic meters a day (MMPCD) in Western Venezuela.
Ramírez explained that the deficit is related to existing facilities instead of total supply, presently around 7,000 MMPCD. "The last balance of gas yielded additional 11 trillion cubic meters."
03/24/2006 - EL UNIVERSAL
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