Project Profile
Value: Undisclosed
Location: Orinoco Oil Belt, Venezuela
Production: 20,000 barrels a day (December 2012)
Reserves: 10.5 billion barrels of extra-heavy crude oil
Start-up Year: June 2012
Junin 10 block at the Orinoco Oil Belt holds proven oil reserves at 10.5 million barrels of extra-heavy crude oil . Junin 10 was the first among the new oil drilling projects of the state-run oil holding Petróleos de Venezuela, SA (PDVSA), at the belt to start producing oil in June 2012. The partners selection process at Junin 10 block was terminated on January 21, 2010, as the proposals made by Total and Statoilhydro failed to meet the eligibility criteria. The output is expected to rise to 20,000 barrels a day by December 2012.
Operators:
PDVSA: Operator with 100% interest
CNPC