PetroVictoria commences pilot production in Orinoco oil belt

A joint venture of Rosneft and Petroleos de Venezuela SA (PDVSA) has commenced pilot production on the Carabobo-2 block in the Orinoco oil belt in Venezuela.

Rosneft said PetroVictoria’s CHV-02 well had an initial production rate of 472 b/d and is expected to reach 800 b/d (OGJ Online, Sept. 23, 2016).

More than 570 wells will be drilled in the next several years in Carabobo-2 North and Carabobo-4 West, which have a total area of 342 sq km.

Rosneft has 40% in PetroVictoria and PDVSA has 60%. The JV was established to develop heavy oil reserves.

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