Offshore staff
(Venezuela)- Venezuela's energy and oil ministry has approved a request from French energy major Total and Norway's state oil firm Statoil to partner in a natural gas E&P development in block 4 of the Plataforma Deltana.
According to an unidentified Statoil official, "It was approved, as expected."
The companies had first requested that their partnership be approved in 2004. Statoil will have 51% in the venture and Total the remaining 49%, the official said.
Statoil said last year that it was interrupting its drilling program in block 4, due to what the Statoil source called, "health, safety and environmental concerns deriving from a drill malfunction." The program is expected to be back on track at some point "during the second or third quarter of this year."
The two firms are already partners in Sincor, the largest producer of synthetic crude from extra-heavy crude in Venezuela's Orinoco belt with output of 190,000 b/d. State oil firm PDVSA has a 38% interest in Sincor, Total 47% and Statoil the remaining 15%.
Deltana holds interest for other E&P operators as well. Deltana blocks 2 and 3 are being explored by US oil major Chevron, which earlier this year had reported finding some 7 tcf in the two blocks.
Venezuela is keen to develop natural gas reserves estimated at least 150 tcf, which the government says are the largest in the western hemisphere.
04/07/2006
