June
22, 2004
PDVSA plans output boost
of 110,000 b/d this year
(Platts.com) - "Venezuela's PDVSA
plans to boost its output of crude oil by about
110,000 b/d this year, mostly in heavy crude,
company director Nelson Martínez said.
Martínez, speaking at an industry conference
in Rio de Janeiro, said PDVSA plans to increase
heavy crude output by 80,000 b/d from its San
Tome field.
He also said 30,000 b/d of
light Mesa crude would come online in eastern
Venezuela by the end of the year. In addition,
PDVSA would be willing to revise certain of its
international partnership contracts to boost production,
including the possibility of new profit-sharing
deals with foreign companies, Martínez
said.
Martínez also said total Venezuelan production
of crude and condensates stands at 3.2- mil b/d,
with the country's total production capacity at
3.76-mil b/d. He stressed the output figure includes
the country's heavy oil joint ventures"
