Venezuela's Hamaca project begins early production

Oct 27, 2001 02:00 AM

The Hamaca project, one of four heavy oil Orinoco tar belt projects, has an early production and is to come online sooner than projected, said a Phillips Petroleum official. "We started production on the first of October, and we should be producing about 65,000 bpd of blended crude by the end of the year," said Jerome Auzemme of Phillips in Venezuela. "We're right on track."

The Hamaca project is to produce 190,000 bpd of 25 to 26 degree API synthetic oil in late 2003 from 8-10 API Orinoco tar belt crude, At the beginning to created a commercial crude, it would have to be mixed with quality Venezuela grades Mesa 30 and Leona 26 API crudes to obtain a 16 degree API crude that can be marketed, according to Auzemme.
By end-2001, the blend will consist of 35,000 bpd of Orinoco extra heavy crude and 30,000 bpd of lighter oil. The Hamaca project partners Phillips, with 40 %, with Chevron Texaco and Venezuela's oil company PdVSA, with 30 % each.
Estimated reserves in the Phillips Hamaca area are projected at 30 bn barrels of oil, of which 2.1 bn barrels are expected to be recovered over the projects 35-year span.

The other Orinoco Heavy oil or Faja projects are, in Zuata East area, Petrozuata a joint venture of Conoco and PdVSA, in Zuata West area, Sincor a joint venture of TotalFinaElf, Statoil and PdVSA, and in Cerro Negro area, Operadora Cerro Negro a joint venture of ExxonMobil, Veba Oel and PdVSA.
Venezuela's four Orinoco heavy oil schemes are expected to account for 600,000 bpd by the end of the decade.

Source: Petroleumworld
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