Valerus, a wholly owned subsidiary of Kentz and a provider of oil and gas handling services and equipment, has been awarded a contract from Cardón IV to provide engineering and procurement of a simplified early production plant in Punto Fijo, Venezuela. The US$38 million contract award follows an award previously announced in November 2013 for engineering, procurement, and construction of a gas conditioning and condensate stabilization facility, also in Venezuela.
The plant, to be designed and constructed on a fast-track execution strategy, will begin operating by the fourth quarter of 2014 and will deliver 150 million standard cubic feet per day of gas. The permanent installation will operate independently to boost production as necessary from the Perla field. Valerus will again combine local resources with Lindsay Venezuela to execute the project.
Cardón IV (currently Repsol 50% Eni 50% with a near future Venezuelan PDVSA participation) is the license holder and operator of the Cardón IV block offshore in the Gulf of Venezuela since 2006. During 2009 it announced the discovery of the multi-tcf Perla natural gas field, which is currently under development.