Project Profile
Estimated Value: US$1,800 million
Location: Oronoco Belt, Venezuela.
Start-up Year: 2014
Oil reserves: 36 billion bbl
Peak production: 200,000 b/d
Water depth: -
This project will involve three phases of production – early production, permanent production and thermal stimulation.The Junin 2 block, Venezuela covers 248-square-kilometre in the Orinoco belt. The block has heavy oil and extra heavy oil. Crude will be upgraded from 8° API to 32° API. Oil-in-place reserves are estimated at 36 billion bbl. Peak oil output is expected to reach 200,000 b/d, which will then be processed into light crude oil to supply to an oil refinery in Vietnam. The planned facilities include a gas-oil separator and treatment plant, storage tanks for crude oil, a central processing facility (CPF) to handle the heavy and the extra-heavy crude oil and associated natural gas and the fabrication and installation of a network of pipelines. It will also include an infield pipeline system, construction of onsite office buildings, workshops, storage room and temporary accommodation, a potable water treatment plant, treatment plants for service water and power systems.
Operators:
Petromacareo: Operator with 100%
(a joint venture between Corporación Venezolana del Petróleo S.A. (CVP), a member of Venezuelan national oil company PDVSA and PVEP)