November
11, 2004
PDVSA
finds oil in Punta de Mata district
(Dow Jones Newswires) - Petróleos
de Venezuela found oil at a recently drilled
well in the Punta de Mata district in
the center of the country, PDVSA President
Alí Rodríguez told reporters.
He said the "Trevis"
well has early production of 4,694 barrels
a day of 28 degree API gravity oil. 'This
is an indication of the effort we are
making', Rodríguez said. 'Now we
are doing development studies of the reservoir'.
PDVSA plans to invest $26 billion in exploration
and production during the next five years.
The plans include drilling 3,800 new wells,
performing workovers on 5,500 wells and
maintaining an average of 111 rigs in
operation".
