(Energy Analytics Institute, Jared Yamin 25.Mar.2015) – Vietnam’s state oil company PetroVietnam is evaluating its exit from a Venezuelan heavy oil project where it is partnered with its Venezuelan counterpart PDVSA, reports Reuters, citing an official with PDVSA who requested his identity be withheld.
Partners in the PetroMacareo project include: PDVSA (60% WI) and PetroVietnam (40% WI). The JV initiated exploitation activities in 2010 in the Junín 2 area of the Orinoco heavy oil belt.
“A Colombian company is interested in assuming the participation,” according to Reuters, citing a second PDVSA source.
The company did not produce oil last year, according Venezuela’s Oil Ministry year end 2014 unaudited report.
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