PDVSA and Eni to Form Joint Ventures to Produce and Refine Heavy Crude Oil in Orinoco Region; Targeting 240,000 Barrels per Day
Green Car Congress
JANUARY 1, 2010
Venezuela state-owned PDVSA and Italy-based Eni are finalizing a planned 60:40 joint venture to produce heavy crude oil in Junin Block 5 in the Orinoco Oil Belt in Venezuela in 2014. In early 2008 the firm Ryder Scott certified about 40 billion barrels of original oil in place on the Junin 5 block.
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