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Eni Makes Giant Gas Discovery in Offshore Venezuela

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Italian oil major Eni made a world class gas discovery at its Perla field, in the shallow water of the Venezuelan offshore, successfully drilling an explorative well in the Perla field, located in the Cardon IV block, in the Gulf of Venezuela. The Venezuelan state company Petróleos de Venezuela S.A. interest in the project.

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PDVSA signs $4B loan agreement with China Development Bank for expansion of heavy oil production in Orinoco

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Venezuela’s PDVSA signed a $4.0-billion, Venezuela will also receive two other loans from China: one for $1.5 China and Venezuela are developing Orinoco blocks Junin 1, 4 and 8; Boyaca 4 and MP3. 2009) An estimate of recoverable heavy oil resources of the Orinoco Oil Belt, Venezuela : US Geological Survey Fact Sheet 2009–3028.

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Eni announces first production from the Junin-5 giant heavy oil field in Venezuela

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The well was drilled at a water depth of 976 meters and reached a total depth of 4,107 meters. Separately, Eni reported its ninth oil discovery in deepwater offshore Angola, in Block 15/06, increasing the resource base of the West Hub project.

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Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

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The process can extract hydrogen from existing oil sands reservoirs, with huge existing supplies found in Canada and Venezuela. This heat causes the nearby hydrocarbons—and any surrounding water molecules—to break apart (thermolysis).Thermolysis, Proton Technologies is commercializing the process.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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The well was safely drilled to 21,161 feet (6,450 meters) depth in 8,973 feet (2,735 meters) of water. This latest success operating in Guyana’s significant water depths illustrates our ultra deepwater and carbonate exploration capabilities. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. Hess Guyana Exploration Ltd.

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Water production. Clean water shipped to agriculture (regulated).

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