Venezuela's northern district oil output hits 804,000 b/d

Petroleos de Venezuela SA (PDVSA) says that crude oil production in its eastern division, PDVSA Oriente Northern District, currently is averaging 804,000 b/d, OPEC News Agency reported Friday.

April 14, 2003

By OGJ editors

HOUSTON, Apr. 14 -- Petroleos de Venezuela SA (PDVSA) says that crude oil production in its eastern division, PDVSA Oriente Northern District, currently is averaging 804,000 b/d, OPEC News Agency reported Friday.

PDVSA said it is utilizing both normal recovery and secondary recovery methods, and production is being accomplished with 800 fewer workers than before the strike. PDVSA also is claiming a production savings of 50¢/bbl because the "estimate for this year was $2.30, and today it is estimated (at) $1.67/bbl."