Venezuelan group to further develop Yucal Placer gas

The Ypergas operating group will begin increasing sour natural gas production at Yucal Placer field in east-central Venezuela and eventually triple present output of 100 MMcfd, said Total Oil & Gas Venezuela.

Yucal Placer, which went on production in 2004 in Guarico state, is a high-pressure reservoir that contains methane and carbon dioxide.

Expansion project sanction and final investment decision took place following the signature of an addendum to the gas sales and purchase agreement between Ypergas and PDVSA Gas.

Ypergas, a combine of Total, Repsol, Inepetrol, and Otepi, operates Yucal Placer field. Total Oil & Gas Venezuela has a 69.5% interest in the Yucal Placer Norte and Yucal Placer Sur licenses, and a 37% interest in Ypergas.

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