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Ecopetrol to team up with PDVSA to engage in E & P work
By Elio Ohep
Petroleumworld
El Tigre, la Guajira, Venezuela
Petroleumworld.com 07 11 06
Colombia's oil company Ecopetrol President Isaac Yanovich told Petroleumworld on saturday that is in talks with Venezuela's PDVSA about exploring for oil in various offshore and land in Venezuela, including Venezuela's Orinoco Belt region.
"We have been in conversations with PDVSA for some months now," Yanovich told Petroleumworld.Colombia's President Alvaro Uribe said on Saturday, during the Colombia - Venezuela gas line ceremony, that he hope in the very near future Ecopetrol and PDVSA would engage in joint ventures in Venezuela, Colombia and the world.
Yanovich told Petroleumworld that Ecopetrol and PDVSA are looking at the Llanos basin in Colombia and some offshore areas in Venezuela, as well at the Orinoco's Faja basin, to team up in joint ventures with PDVSA.
The government of Colombia is promoting oil exploration in all areas to raise the country's oil output. The country's 1.5 billion barrels of known oil reserves are depleting rapidly and the country will like to make new discoveries.
Colombia has awarded 21 new E&P contracts this year.
Colombia's oil production has dropped from a peak of 815,000 b/d in 1999 to a current average of 538,000 b/d.Colombia, shares many of the geological features of Venezuela.
- Elio Ohep, editor@petroleumworld.com, 58 412 996 3730,Caracas.
Petroleumworld 07 10 06
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