Venezuela: New Reserves
to Energy Potential
The Venezuelan energy
potential received a
fostering to
officialization of new
reserves of oil and gas
as part of the local
Executive actions to
certify the existence of
hydrocarbon reserves in
the country.
In a scene where the
standard of the national
crude oil basket is over
100 dollars the barrel,
counting on 99.377
billion barrels at the
end of 2007 is
especially relevant.
The Venezuelan Energy
and Oil Ministry said
that in the last quarter
of 2007, 748.46 billion
barrels were added as a
result of the
certification of zones
in the Orinoco Strip.
Great amounts of
extra-heavy oil are
located in this zone
precisely, and 10
foreign companies are
operating, in
association with
Venezuelan state oil
enterprise Petroleos de
Venezuela (PDVSA).
The Venezuelan Energy
and Oil Ministry
officialized 170.86
billion cubic feet of
natural gas in proven
reserves, with an
increase of 6 billion in
2007.
The definition of
available volumes is an
element to take into
account in the design of
strategies in the
sector, because the
government wants to add
another 100 billion
barrels of crude oil
this year.
The incomes coming from
the commercialization of
hydrocarbons are also a
factor to the execution
of social programs and
contributing to finance
missions in the sectors
of public health,
education, food industry
and dwelling. |
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