PDVSA awards GeoQuest service agreement

Apr 16, 1997 02:00 AM

PDVSA and GeoQuest have signed a service agreement for the management of PDVSA's exploration and production (E&P) integrated applications and data environment. GeoQuest will be responsible for the database management, data delivery and applications support to PDVSA and its affiliates. Services will be delivered from 17 different sites throughout Venezuela.
PDVSA's business plan calls for the company to double production capacity to 6.2 million bpd of oil over the next 10 years. To do this, Venezuela has opened the oil industry to foreign investors and is working to optimise processes and the use of resources.
GeoQuest will be providing the technology, consulting and technical support to help PDVSA implement its corporate strategy to achieve substantial improvements in productivity.

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