(Energy Analytics Institute, Piero Stewart, 28.Apr.2016) — PDVSA has started work on the heavy oil treatment plants at the joint-venture companies Petrolera Sinovensa and Petrocarabobo, located in the south of Monagas and Anzoátegui states, respectively.
Investments in the Petrolera Sinovensa plant are expected to total $40 million plus an additional 600 million Venezuelan bolivars. Construction of the plant will generate 220 direct and 600 indirect employment opportunities, reported PDVSA in an official statement on its website, citing PDVSA Exploration and Production Vice President Orlando Chacín. The project contemplates the construction of 12 plants with 100,000 barrels per day of capacity over the next five years.
Sinovensa partners PDVSA with a 60 percent majority interest and the China National Petroleum Corporation with the remaining 40 percent interest.
Petrocarabobo
The Petrocarabobo joint venture has estimated proved reserves of 13.500 billion barrels and anticipates construction of a 400,000 barrel per day heavy oil upgrader that will convert 8.5 degree API oil into a lighter 32 degree API oil, said PDVSA New Orinoco Oil Projects Executive Director Rubén Figuera.
The processing module will have an initial capacity to process 50,000 barrels per day.
Investments in the Petrocarabobo plant are expected to total $65 million plus an additional 180 million Venezuelan bolivars.
“The project includes development of two additional modules that will allow for the expansion of the plant to 90,000 barrels per day over the short term,” said Figuera.
The Petrocarabobo treatment plant partners Repsol YPF (Spain) with an 11 percent interest, ONGC (India) with an 11 percent interest, Indian Oil (India) with a 3.5 percent interest, Oil India Limited (India) with a 3.5 percent interest and PDVSA as the majority owner in the project with a 71 percent interest.
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