Washington Allowed the Oil Service Company to Work with Caracas to Close Contracts
US authorities have allowed Halliburton, Schlumberger, Baker Hughes and Weatherford to carry out transactions in Venezuela until May 16, 2024 The US Treasury has extended until May 16, 2024 the licenses of four international oil service companies that must complete their work in Venezuela. This also applies to working with …
PDVSA and Maurel&Prom Signed an Agreement to Develop Oil and Gas Fields in Venezuela
The Venezuelan state oil company PDVSA and the French Maurel&Prom (beneficiary of the Indonesian Pertamina) signed an agreement aimed at increasing oil and natural gas production in the western region of Venezuela. This was stated by PDVSA General Director P. Tellechea. the companies have agreed to a contract that focuses …
Oilfield Service Awaits the Opening of Venezuela
The world’s largest oil services company SLB plans to quickly return to the fields of Venezuela after the easing of US sanctions against the country’s energy industry, said the head of the company Olivier Le Peche. According to him, the company will try to mobilize resources and equipment to resume …
American Chevron is Ready to Drill New Wells in Venezuela
The American company wants to increase production in the Latin American country by another 65,000 bpd by the end of 2024 Currently, Chevron and Venezuela’s PDVSA together produce about 135,000 b/d. Washington’s permission to operate an American company in Venezuela is gradually raising the country’s oil production from its knees. …
Venezuela Cannot Service Its Oil Fields – no Funds
Due to problems in the preparation of extra-heavy Venezuelan oil for export, its volumes in August decreased by 38% compared to three-year figures for the same period. The state company PDVSA was unable to ensure the uninterrupted operation of facilities for the preparation of heavy oil produced in the Latin …
Oil Production in Venezuela Increased by 10.65 Percent in 2023
The average daily level of oil production in Venezuela increased from January to July 2023 from 732 to 810 thousand barrels per day – monthly statistics were published by the Minister of Oil and the head of the Venezuelan oil and gas PDVSA, Rafael Tellechea. “Oil production in Venezuela continues …
USA Extends Permission for Oil Companies to Transact with PDVSA
The US Treasury has once again extended permission for four US oilfield services companies to operate in Venezuela. The 8L General License allows Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC and Weatherford International to retain Venezuelan assets until November 19 and enter into transactions with the local state-owned company PDVSA …
Equinor: Completes Divestment of Onshore Asset in Venezuela
Equinor and state-owned Petróleos de Venezuela (PdVSA) have completed a transaction whereby Equinor will transfer its 9.67% non-operated interest in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PdVSA company. The Petrocedeño project aims to upgrade extra-heavy crude oil into lighter crude from the Orinoco Belt …
Rosneft and PDVSA signed Heads of Agreement for Joint Development of the Offshore Natural Gas Project in Venezuela
Rosneft and PDVSA signed Heads of Agreement to establish a joint venture for implementation of the large-scale project for production, treatment and sale of natural gas at the offshore fields Patao, Mejillones and potentially Rio Caribe in Venezuela. The Heads of Agreement is concluded in elaboration of the Memorandum on …
Rosneft Drills a Record-breaking Well in Venezuela – Depth 347m Horizontal Section 1,500m
Rosneft, as part of a PetroMiranda JV including PDVSA and Gazprom Neft, has drilled an unprecedented horizontal well GG1-14 at the Junin-6 block. The well is unique for the shallow depth, only 1,140 feet or about 347 meters, of the reservoir interval and the length of horizontal section 4,920 feet …