SPS Expects Urdaneta Field Output Increase

Southern Procurement Services (SPS) President Manuel Chinchilla (pictured right). Source: SPS

(Energy Analytics Institute, Piero Stewart, 26.Jul.2018) – Southern Procurement Services (SPS) expects production from the Urdaneta Field in Zulia state to increase to 19,000 barrels per day (b/d) from 12,000 barrels per day in 45 days due to the purchase of Russian and Ukrainian equipment.

“We will reach 19 thousand barrels per day thanks to the system of artificial lift by electrosumergible pumping”, announced SPS in an official statement on its website, citing company President Manuel Chinchilla. The tasks will also involve the repair and installation of pipelines, he added.

SPS has intervened in 30 wells in an effort to boost oil production, and recent studies reveal productive per well potential of 400 to 530 barrels per day, according to the company.

“We estimate to close the year above 35 thousand barrels of crude oil per day,” concluded Chinchilla.

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Author: ENERGY ANALYTICS INSTITUTE (EAI)

Energy Analytics Institute (EAI) is a Houston-based independent think-tank providing unbiased research, analysis, commentaries, opinions and breaking news related to the petroleum sectors in the Latin American and Caribbean regions.

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