(Energy Analytics Institute, Jared Yamin, 21.Jun.2016) – PDVSA has increased the recovery factor to 35 percent from 20 percent in the South Junín district of the Orinoco Heavy Oil Belt or the Faja using various technologies.
Said technologies could establish a base or floor recovery factor in the Faja of 40 percent, reported the daily newspaper El Universal, citing petroleum expert Fernando Travieso. Assuming such a base recovery factor, Venezuela could register certified reserves of close to 513 billion barrels, said the expert.
Details of the recovery techniques used to achieve the 35 percent recovery factor were not revealed.
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