Among the production objectives of the Venezuelan oil company PDVSA are plans to “restart drilling after five years of inactivity, even before the relaxation of sanctions,” as leaked by Reuters.
In this sense, the president of the oil company, Pedro Tellechea, has indicated that Venezuela is focused on reactivating 27,966 wells located in the oldest oil region in the territory, in the state of Zulia.
According to Tellechea, this could represent 1.7 million barrels per day (bpd) in national production. “However, experts note that to achieve such a drastic increase from this year’s 780,000 bpd production, PDVSA and its partners could need up to a decade of hard work and sustained investment.”
As an aspect against these expectations are the reports from Baker Hughes, which specify that the South American country only has “one active drilling platform of the more than 80 units that were operational in 2014.”
However, according to the Reuters agency, Pdvsa began negotiations with local and foreign oil companies in order to contract equipment and services that will allow it to reactivate the oil zone in the state of Zulia, where inactive SLB (former Schlumberger) equipment stands out. , Nabors Industries and Evertson International.
In this shift to reactivate inactive wells, the Venezuelan oil company is also considering the east of the country, since before the Barbados agreement, with temporary relief from some sanctions, PDVSA has been trying to recover wells and platforms in the southern part of the Anzoátegui state.
(Reference image source: Zachary Theodore, Unsplash)