PDVSA gets reserve certification of Block Carabobo 3 in the Orinoco Oil Belt

abarrelfullabarrelfull wrote on 07 Feb 2014 07:29
Tags:

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/killajoules.wikidot.com\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"4","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

21-06-2007

A reservoir appraisal survey carried out by the international firm Ryder Scott Petroleum Consultants has certified a total reserve of 28,650 million barrels of Original Oil in Place (OOIP) in Block Carabobo 3, Carabobo Area of the Orinoco Oil Belt.

The quantification and certification survey of Block Carabobo 3 was commissioned by state-run Petróleos de Venezuela S.A. (PDVSA) as part of the Orinoco Magna Reserva Project – which is being conducted under the supervision of the Venezuelan Petroleum Corporation (CVP) and the direction of the People’s Ministry of Energy and Petroleum (MENPET).

According to Ryder Scott, the volumes of OOIP in Block Carabobo 3 are as follows: Morichal Superior area, 28,583 million barrels; and Morichal Medio, 67 million barrels. Overall, they add up to 28,650 million barrels.

With this OOIP volume certification, proven reserves are estimated at 5,730 million barrels, with a recovery rate of 20 percent, according to MENPET.
The certification of OOIP reserves in Block Carabobo 3 confirms the estimations of the technical team working in the Orinoco Magna Reserva Project. These resources in reserve represent 100 percent of the volume to be produced in that block.

The study conducted by the Canadian firm Ryder Scott was based on technical and informative reports from the PDVSA team working in the Orinoco Magna Reserva Project, in the Carabobo Area.

The study represents a progress in the schedule proposed by the technical team working for this project – which forms part of PDVSA’s Oil Sowing Plan aimed, among other things, at forging alliances between Venezuela and the countries of Latin America and the Caribbean in the area of energy.
The Orinoco Magna Reserva Project is intended to quantify and certify 260,000 million barrels of crude oil. Including the country’s current reserves of 80,012 million barrels, overall reserves are therefore expected to add up to 340,000 million barrels.

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License