Documente Academic
Documente Profesional
Documente Cultură
Opportunities vs Challenges
Benefits vs Risks
Business Opportunties
E&P Crude Oil Projects
Refining Circuit
Gas Developments
Challenges
Tar Sands
17
Oil Sands and
Conventional Oil Bitumen
30% 30%
Reserves
Source: Energy Information Administration (EIA), MPPENPET
Future Discoveries
Production
10
0
1930 1950 1970 1990 2010 2030 2050
Year Source: The Association For The Study Of Peak Oil And Gas, Newsletter No.
Source: Colin Campbell, The Heart of the Matter, 2003 October 100 – April 2009
20.0
Billion
Bls/yr
Histor
y
197 2006-2008
8
Conventional Oil
Heavy Oil <25 °API
Source: Campbell and Laherrère, March 1998, Scientific American, p.
78 ff and M. Dusseault, 2006
Venezuela Macroeconomics Figures : Goals
2009 2014
Poverty 65% 30%
Crude Oil Production 3,3 MM BD 5,8 MM BD
International Markets
Plan Siembra Social Districts
Petrolera
Venezuela Crude Oil Reserves
17.7
20.6
1.8 112.46
133,40
133,4
133,4
11.3
11.3
6,1 10
10
6,1 9,7
9,7
1,7
1,7
0,1
0,1
Orinoco Oil Belt Eastern Division Western Division Central -South Division
Total Area: 55,314 Km2
Development Area: 11,593 Km2
C/L/M Crude Oil Reserves : 23 Billion Barrels
Orinoco Socialist Project
H/XH Crude Oil Reserves : 149.3 Billion Barrels Area: 87,068 Km2
Total
Boyacá Junín Ayacucho Carabobo
Proven Oil Reserves: (Billion of barrels)
172.3 Billion Barrels
of Barrels Estimated (Original Oil In
Situ) (Billion of barrels) 489 557 87 227 1,360
West Complex
Eastern Complex
Areas of Developments and Major Projects
N
Offshore Gas
ISLA DE
AVES Developments
Commercialisation of
Products and International
Los Monjes
Integration GOLFO DE VENEZUELA FACHADA CARIBE
FALCÓN NE
• Onshore:
RESERVOIR
• CIGMA Complex: Treatment and Processing (LNG
Train) Units
• Gas Pipelines to Domestic Market
Business Opportunities
Infrastructure Projects (on Going)
• Gas Projects:
Crude oil between 8,6 and 9,3 °API Crude High quality
synthetic crude
26 °API (higher)
Upgrading
HC/XH Petrocedeño
Petropiar
<25°API
Maximum upgrading
in Venezuela. Internation
Upgraded crude al Market
16-22 °API
Light
>35°API
Specified mix National
for refinery's Refining System
diet
Products
Mix
National
Market
PDVSA financial issues to develop these major projects. PDVSA Is trying to attract
foreign investments from allied countries (China, Russia, Brazil, India, France).
Payments issues due to the fall of Oil Prices in 2008-2009. Late 2009 and 2010, prices
are recovering, but payments are still an issue for some major companies and contracts
(beaurecracy within PDVSA). PDVSA has debts of 21.4 US$ Billions just to financial
institutions.
PDVSA lack of expertise (Qualified Personnel) for the gas developments and extra
heavy crude oil exploitation projects in the Orinoco Belt.
Technologically and environmental issues will pose a big challenge for the Orinoco Belt
development and major projects.
Conclusions
Venezuela has the second largest reserves of crude oil in the world with 172 Billions of Proven
Barrels. Venezuela is placed six in natural gas reserves in the world with 150 TCF (50%
Offshore).
Actual bidding process in progress for 3 blocks in the Orinoco Oil Belt and agreements with
selected companies and countries. Results due to be announced by the 28th of January 2010.
Venezuela through PDVSA has a development plan to be accomplished by 2030, and PDVSA
is taking part in every oil & gas operation project, creating opportunities for qualified and
technological experienced companies.
THE UK government through UKTI is promoting the trade of goods and services with
Venezuela including PDVSA’s major current and future projects. Examples of UKTI’s
promotional events include:
Venezuela UK Roundtable Event in Oct 2009: 15 British Companies interacted with
senior PDVSA officials and learnt about forthcoming opportunities
Venezuela UK technology Workshop in June 2010: One objective is to work with PDVSA
to Increase the Recovery Factor of Heavy and Extra Heavy Crude Oil Exploitation.
Thank you very much !!
García, Dic/2.009