Oil discovery in Venezuela

Apr 23, 1998 02:00 AM

Mobil has confirmed an oil discovery located in Eastern Venezuela in which a subsidiary company, Ampolex (Venezuela) Inc. holds a 25 % interest.
Astra Produccion Petrolera S.A., a subsidiary of Astra CAPSA controlled by Repsol S.A., which has a 25 % working interest, is the operator of the Quiamare - La Ceiba block and has reported that the discovery well, Tacata TAG 12 E, produced oil from 3 intervals at a combined rate of 16,000 bpd through a variety of choke sizes ranging from 1/2 to 3/4 inch.
The well is situated in Quiamare - La Ceiba which covers a 632 square mile area. Currently, 15,000 bpd is being produced from this block.
Two other companies, Sipetrol S.A. of Chile and Tecpetrol S.A. of Argentina, each hold a 25 % interest.
"We are pleased with the continued exploration success Mobil has had on property acquired with the Ampolex purchase," said Lou Allstadt, President of America's Exploration and Producing and Executive Vice President Mobil Oil Corporation. "This builds upon the successes we have had on other Ampolex properties such as Papua New Guinea and off the North West coast of Western Australia."

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