PdVSA to develop Mariscal Sucre fields with Japanese gas partners
Venezuela expects to complete the development of its Mariscal Sucre offshore natural gas fields, with Japanese
partners, by 2014, Oil and Energy Minister Rafael Ramirez said.
The country has started drilling works with Japanese companies Mitsubishi Corp. and Mitsui & Co. and is seeking a
partnership with Algerian state-run oil and gas company Sonatrach, Ramirez said.
Petroleos de Venezuela, Venezuela's state oil company, is allowing foreign partners to have a minority role in
developing Mariscal Sucre, which will supply fuel for Venezuela's domestic market and potentially for liquefied
natural gas exports.
PdVSA said in a June statement that it expects investment of $ 8.35 bn in the project, with $ 800 mm already spent.
The state company says the fields, west of Trinidad, hold 14.7 tcf of gas.
Japanese companies will have access to up to 20 % of the Mariscal Sucre project and Venezuela will have 60 %, Japan's information ministry said on July 29.
