Project Profile
Value: Undisclosed
Location: Gulf of Venezuela, Venezuela
Reserves: 100 billion cubic metres
Water depth: -
In September 2005 Gazprom was announced the winner of the tender for exploration and development of natural gas fields in the Gulf of Venezuela as part of the Rafael Urdaneta project (Urumaco I and Urumaco II blocks). The forecasted natural gas reserves of the blocks average 100 billion cubic meters. According to the tender terms for the Urumaco I and Urumaco II blocks, Gazprom founded UrdanetaGazprom I and UrdanetaGazprom II companies, which assumed operatorship of the respective licensed blocks. In 2007 under the terms of the licenses issued, the first stage of geological exploration was completed and the decision was taken to drill exploratory wells. Seismic surveying of both blocks was completed. The first exploratory well, COR-1X, was drilled in the Urumaco I block. An adjusted geological model of both blocks was rendered on the basis of 3D seismic data reinterpreted with regard to drilling.
Operators:
Gazprom: Operator with 100% interest