In the Orinoco Oil Belt, one of the world’s largest hydrocarbon deposits

Repsol is awarded a project to develop oil reserves in Venezuela

Press Release 11/02/2010 15:58
  • Repsol, with an 11% stake, is part of the international consortium which will together with PDVSA develop the Carabobo 1 project in Venezuela’s Orinoco Oil Belt.
  • The Orinoco Oil Belt, which holds up to 513 billion barrels of heavy oil, is one of the world’s largest hydrocarbon deposits.
  • Production is expected to reach a plateau of 400,000 boe/d during a 40 year project-life. Development includes the construction of a crude upgrader.
  • The development of Carabobo will allow Repsol to apply cutting edge, modern technology for extracting and producing heavy crude oil.

10 February 2010 - 00:00 CET | PDF | 61.02 KB