• Submitted by: admin
• International
• South America
• Business and Economy
• Science and Technology
• 08 / 02 / 2007

Six blocks covering some 10 thousand square kilometers have been included in this joint-risk operation. Light-oil fields to meet steady production are expected to be confirmed.

Around 4,000km 2D seismic offshore and 530km 2D seismic in shallow waters will be explored during the first stage.

This is the first deep water exploration project undertaken by PDVSA in this kind of environment.

Another nine agreements have been signed between the two nations in terms of energy, as part of the Venezuelan initiative for Latin American integration called the Bolivarian Alternative for the Americas (ALBA).

Source: ACN