September
2, 2003
Ameriven
to Produce 180,000 B/D
By Fred Pals
(Dow Jones Newswires) - Venezuela's extra-heavy
crude joint-venture Ameriven will complete its
upgrading unit by the middle of next year after
which it will start producing around 180,000 barrels
a day of synthetic crude, the state-run news agency
Venpres reported. "The plant will start functioning
by June or July next year," general manager
César Malavé was quoted as saying.
The
Ameriven joint venture from state-owned oil monopoly
Petróleos de Venezuela SA , ConocoPhillips
and ChevronTexaco. The project uses extra-heavy
crude from the Orinoco belt which is upgraded
to synthetic crude and exported to mostly the
U.S.
Currently,
without the upgrader on line Ameriven is producing
around 160,000 b/d of blended crude of a degree
of 16 API. In the area of the José complex
where the plant will be functioning, three other
joint-ventures already produce and export synthetic
crude. The four projects represent a total investment
of around $12 billion and are seen producing up
to 600,000 b/d within two years.
