Maraven launches basic engineering Orinoco

Feb 25, 1997 01:00 AM

Maraven, a subsidiary of PDVSA, Total of France, and Statoil and Norsk Hydro of Norway have announced the launching of the basic engineering phase of a strategic association project to produce extra-heavy crudes from the Orinoco oil belt in eastern Venezuela. This phase of the venture, which has a 35-year life-span, will allow the definition of the cost estimate to start in 1998, detailed engineering, procurement and construction phases to accomplish production operations by the end of the year 2000.
As part of the basic engineering, several wells will be drilled during the course of this year to gain further knowledge of the Zuata area of the belt and optimise the production plan. The venture calls for an initial investment of $ 2.7 bn to produce about 180,000 bpd of extraordinary 9 degree API crude from the Zuata region of the belt, which will be converted into a lighter 30 degree API synthetic crude.
Plans include building an upgrading plant at Jose, Anzoategui state, eastern Venezuela,where the delayed coking and hydro-treatment processes will be used to upgrade the crude before it is marketed in the United States and Europe.

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