Project Profile
Value: US$17,000 million
Location: State of Anzoategui, some 550 kilometres south east of Caracas
Start-up Year: 2013
Upstream Oil Reserves: 2,500 million bbl
The Junin Block 5 is one of the most prospective blocks in the Faja. The block is located in the State of Anzoategui, some 550 kilometres south east of Caracas; the block covers an area of approximately 670 square kilometres. The block has 35 Bn bbl of certified oil in place with recoverable reserves estimated in excess of 2.5 Bn bbl. The initial phase is targeting the production of 75,000 b/d. The second phase will bring this to 240,000 b/d, once a new refinery is built in the port town of Jose to process the crude. Around 1,500 horizontal shallow wells will be needed for the full field development.
Operator:
PetroJunin: Operator
Which is a joint venture between:
PDVSA: 60% interest
Eni: 40% interest
Contractors:
Consortium contractors for pre-FEED:
SNC Lavalin
Y&V Engineering and Construction
Albatroz Engineering