Led by Vasily Podyuk, Member of the Management Committee, Head of the Gas, Condensate and Oil Production Department, a Gazprom delegation and Gazprom Neft representatives have paid a visit to the Bolivarian Republic of Venezuela.

In the course of the meetings with Eulogio del Pino, Venezuelan Deputy Minister for Energy and Petroleum and PdVSA Gas leadership, the parties discussed the possibility for Gazprom to take part in the project on Reserve Certification of the Orinoco Oil Belt, new offshore gas projects and prospects for participation in the gas infrastructure projects.

The delegation members visited the heavy oil production facilities in the Orinoco Belt and familiarized with the infrastructure and technological peculiarities of the current projects executed by PdVSA Gas.

Reference:

Being the first-largest in Latin America, Venezuela’s proved natural gas and oil reserves account for 4.3 tcm and 11.2 bln tons, respectively. Venezuela annually produces some 70 bcm/y of gas that is in full consumed by domestic consumers. The country doesn’t import and export gas. The share of natural gas, oil and hydropower in Venezuela’s primary energy mix makes up 41, 38 and 21 per cent, respectively.

Although the monopoly right to produce natural gas is being held by the Venezuelan state-run oil and gas company Petroleos de Venezuela S.A. Venezuela participates in the construction project of transcontinental pipeline system in South America which will join Venezuela, Brazil, Argentina, Urugvai, Paraguay and Bolivia in the unified energy network.

PdVSA Gas is a gas branch of Petroleous de Venezuela S.A.

In September 2005 Gazprom was proclaimed the winner of a tender for prospecting and development of natural gas fields in the Gulf of Venezuela within the Rafael Urdaneta project (Urumaco 1 and Urumaco 2 blocks). In 2007 the first stage of geological works was completed in the frames of the sustainable execution of the licenses issues. The parties decided to drill test wells. 

The Venezuelan side signed the contracts to develop the General Scheme for the gas industry development in Venezuela and the framework agreement on wide range of engineering consulting services.