São Paulo – Repsol confirmed on Friday (16th) the potential reserves discovered in Venezuela in September. It may include recoverable reserves of gas of between 1 billion and 1.4 billion barrels of oil equivalent.
The potential of the reserves in Cardón IV block were confirmed after tests at well Perla 1X. The discovery, made in the Gulf of Venezuela, is the largest ever promoted in the history of the country and also the largest ever by Repsol.
Well Perla 1X reached depths of 3,147 metres, at a water depth of 60 metres. Production tests resulted in a flow of 570,000 cubic metres of gas a day and 620 barrels of oil a day, restricted by specifications of installations.
Repsol operates the well in partnership with Italian company Eni, in the consortium that discovered block Cardón IV. Each one of the companies should have 32.5% of production of the field, whereas Venezuelan oil company Petróleos de Venezuela, PDVSA, should have the remaining 35%.
The specialized hydrocarbon information service (IHS) classified the discovery of well Perla as one of the five largest discoveries in the world in 2009.
*Translated by Mark Ament
