Project Profile
Value: US$16 billion
Location: Carabobo block, Orinoco oil belt, Caracas, Venezuela.
Area: 342 sq km.
Project Capacity: Conventionals 400,000 b/d
Carabobo 2 is located in the Carabobo block, in the states of Anzoátegui and Monagas, by the Orinoco river and 450km from Caracas, Venezuela. Carabobo 2 is an onshore block in the eastern sector of the Orinoco extra-heavy oil belt. The Carabobo-2 project is owned and operated by Petrovictoria, a joint venture of PDVSA and Rosneft, which was officially formed in May 2013. The Carabobo-2 project comprises two blocks, namely Carabobo-2 North and Carabobo-4 West. Carabobo-2 was in very early stage of development as of the beginning of 2014. The projects will have an upgrader facility capable of processing 200,000 barrels of heavy crude oil into lighter synthetic oil per day. The upgrader for Carabobo-2 is expected to be built by 2017. Rosneft is to invest US$16 billion in the project. The block is expected to produce 25Bt a year. The Carabobo oil block is part of the Orinoco oil belt, one of the largest hydrocarbons reserves in the world. The Orinoco belt extends 55,314km2 and is divided into four areas: Boyacá, Junín, Ayacucho and Carabobo. The Carabobo block is split into three zones: Carabobo 1, Carabobo 2, and Carabobo 3.
Operators:
Petroleos de Venezuela SA (PDVSA): 60% interest
Rosneft : 40% interest