Article: VENEZUELA: Plans for proposed $220,000,000 to $300,000,000 offshore oil field development project, PETROLEOS DE VENEZUELA SA (PDVSA) [Venezuela] - Order #: 1211501.(Brief Article)

PROJECT OVERVIEW: PETROLEOS DE VENEZUELA SA (PDVSA) of Venezuela is currently gearing-up to begin an offshore oil field development project. The site in question is located adjacent Venezuela's border with Trinidad & Tobago. The border region with Trinidad, for that matter, already contains promising natural gas reserves.

PDVSA's program will reportedly involve drilling 12 exploration wells over the next 2 years off Venezuela's eastern coast. In so doing, the company is hoping to find large offshore reserves that would replace depleted fields in the Maracaibo region. The cost to complete the exploration project is expected to range between $220,000,000 to ...

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