PDVSA will reactivate 931 wells in Lake Maracaibo

Petroleos de Venezuela SA (PDVSA) announced two partnership agreements, one finalized and one still pending, to replace flow and gas lines that will include 931 oil wells in Lake Maracaibo, Zulia state.

PDVSA said China’s Shandong Kerui Group Holding Co. will repair and connect 624 wells. Shandong Kerui agreed to an initial investment of $30 million. Production will increase by 22,600 b/d of crude oil and 13 MMcfd of natural gas.

PDVSA and the Bulgarian Venezuelan Consortium are negotiating a partnership that, if finalized, would connect 307 wells in Lake Maracaibo. Such a partnership would be supported by a $100-million investment from Bulgarian investor group ALECO, PDVSA said.

The wells, distributed in nine production units, would add 28,000 b/d of oil and 30 MMcfd of gas.

Plans call for both projects to be finished in a year.

Both projects a total of 1,539 km of laid flexible pipe, both 2.4-in. and 6-in., at production units of Tia Juana Lago, Rosa Mediano, Urdaneta, Lagunillas Lago, Lagomar, Lagomedio, Centro Sur Lago, Lagocinco, and Moporo Lago.

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