Venezuela Says 23,319 Wells Have 1.4 MMb/d Recovery Potential

Instant Max AI

(Energy Analytics Institute, Piero Stewart, 5.Jun.2018) – Venezuela’s Oil Minister Manuel Quevedo says the state oil company has identified 23,319 wells which have potential to recover Venezuela’s oil production by 1.426 million barrels per day (MMb/d).

Quevedo, who also serves as the president of PDVSA, made the announcement in La Campiña in Caracas during a meeting with Venezuela’s President Nicolás Maduro, announced PDVSA in an official statement.

In the western region of Zulia state alone some 13,435 category two and three oil wells have been identified with potential to recover production of 655 thousand barrels per day (Mb/d). In the eastern region of Venezuela another 9,500 wells have been identified with potential to recover production 700 Mb/d. In total, Quevedo said 23,139 wells have been identified with potential to recover 1.426 MMb/d.

The official didn’t explain where the additional 389 wells were located, which have potential to recover another 71 Mb/d.

Photo source: PDVSA

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