With respect to production at the Pernambuco facility
Petroleos de Venezuela (PDVSA) vice-president of refining,
Alejandro Granado, explained that of the 200,000 barrels of
crude oil to be processed there, 100,000 will be coordinated
with the Brazilians and the remaining 100,000 will go to the
market.
Good budgeting: half to gain income, half to be used cooperatively
for local benefit.
This alternate block gets more and more interesting.
rkm
--------------------------------------------------------
http://www.vheadline.com/readnews.asp?id=46226
Oil & Gas
Published: Monday, October 03, 2005
Bylined to: Armando Núñez
Venezuela and Brazil reach agreement to invest US$3.5 billion
in energy projects
President Hugo Chavez Frias has stressed that, with a joint
investment of US$3.5 billion, Venezuela and Brazil have
reached agreement to exploit 50 billion barrels of crude oil
from the Carabobo I field ... which currently holds some 300
billion barrels of crude oil in proven reserves.
Translated by Armando Nunez
To develop the project, both nations are expected to invest
50% according to an agreement signed during Chavez' visit to
Brasilia last week, during which he attended the 1st South
American Community of Nations summit.
On his 235th 'Alo, Presidente' radio and television broadcast
from the Miraflores Presidential Palace, the Venezuelan leader
emphasized that the agreement aims at fostering Latin American
integration and energy rapprochement with Brazil through
PetroAmerica and PetroCaribe refineries.
President Chavez said a series of bi-national agreements
signed between both countries would bring social and economic
benefits to South America. "I don't give anything away, I
just apply a different model!" he told reporters. Likewise,
President Chavez said that both countries have pledged jointly
to build the Pernambuco refinery in Brazil.
With respect to production at the Pernambuco facility
Petroleos de Venezuela (PDVSA) vice-president of refining,
Alejandro Granado, explained that of the 200,000 barrels of
crude oil to be processed there, 100,000 will be coordinated
with the Brazilians and the remaining 100,000 will go to the
market.
Brazil and Venezuela also plan jointly to exploit estimated
reserves of 4 trillion cubic feet of natural gas in
Venezuela's eastern Sucre State. Chavez reiterated that, in
addition to having the world's largest oil reserve, Venezuela
has the largest gas reserves in South America (150 trillion
cubic feet) and that construction of a gas pipeline stretching
between Venezuela and Brazil will possibly be routed in
parallel to a of system high-voltage electricity powerlines
through the Amazon jungle.
The Venezuelan President says he has spoken with Brazilian
President, Luiz Inacio Lula Da Silva on plans to to exploit
aluminum and peaceful nuclear energy.
Source: The Bolivarian News Agency (ABN)
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