(Petroleumworld) - "Venezuelan oil company PDVSA said in a press release that Canadian firm Ryder Scott certified a total reserve of an additional 28.65 billion barrels of Original Oil in Place (OOIP) in Block Carabobo 3 of the Orinoco Oil Belt.

In a press release, Venezuelan state oil conglomerate PDVSA said the quantification and certification of the oil belt was commissioned in 2006, as part of the Orinoco Magna Reserva Project to certified and quantified all Orinoco's belt reserves under the supervision of the PDVSA CVP.

According to Ryder Scott, the volumes of OOIP in Block Carabobo 3 are as follows: Morichal Superior area, 28.58 billion barrels; and Morichal Medio, 67 million barrels. Overall, they add up to 28.65 billion barrels.

With this OOIP volume certification, proven reserves are estimated at 5.73 billion barrels, with a recovery rate of 20 percent".