Petroleos de Venezuela (PDVSA) will reactivate a program to explore its offshore basins.
The company's offshore work in the 1980s led to large gas discoveries in the Margarita basin north of the Paria Peninsula.
First up in the new program, starting in third quarter 2001, is exploratory drilling on the Delta platform off the Orinoco River Delta and near the marine border with Trinidad. Several large discoveries have been made in Trinidad waters.
PDVSA will also run geophysical surveys north of La Tortuga and Margarita islands, the company's exploration unit said.
Other marine areas of interest to PDVSA are northeast of Falcon State and north of Barcelona, Anzoategui. The company did not specify whether it planned exploration in those areas at present.
PDVSA noted that its 1980s program "produced important discoveries such as the Los Testigos, Mejillones, Patao and Dragon gas fields, gas condensate at Rio Caribe, together with other interesting prospective areas in the Gulf of Paria."
The activity scheduled for north of La Tortuga and Margarita islands will begin at yearend 2001and be completed in 2002. It includes the recording of 700 line km of 2D seismic data and 3,100 sq km of 3D seismic, over a total of 5,000 sq km, in 100-1,000 m of water. Investment is to be nearly $22 million.
PDVSA said the geophysical information is needed to complete studies that will enable it to ascertain the prospectivity of the areas and define a drilling program for the medium term. The company said the program is part of Venezuela's efforts to expand its resource base for natural gas, condensate, and light and medium gravity crudes.
