The development stages:Under Construction/2006-12.The investment is US$14.2bn.The project, located in the Orinoco Oil Belt, aims to build a refinery to take advantage of the resources available in the area, specifically Junin Block. The initiative seeks to transform Guarico into an energy hub with a high social content, because the refinery is expected to have a big impact on the economy of the area. At the same time, the plant will generate new direct and indirect jobs. Specifically, the project includes the construction and operation of a refinery plant. It will be developed in three stages, starting with the Upgrader, following as a Fuel Refinery, and finally as a Petrochemical Refinery.