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PDVSA mulls oil prospecting abroad

Petroleumworld
MARACAIBO
Petroleumworld.com 06 14 07

Venezuela's oil company PDVSA is exploring the possibility to look for oil and gas abroad, said Luis Vierma, vice-president for Exploration and Production.

PDVSA was looking over two blocks in Vietnam but refused after seismic analysis, but continue to evaluate other possibilities in Vitnam and is also looking in Bolivia, Ecuador, and Cuba, Vierma added.

" We declined the blocks because seismic data showed no prospects. We have a team working in Vietnam," Vierma told reporters last week at the Asia Oil and Gas Conference, Kuala Lumpur.

Vierma said at the conference, that Venezuela has proven reserves pending confirmation of 238 billion tons of extra heavy crude oil in Orinoco belt.

Petroleumworld 13 06 07

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