The exploitation of the Orinoco Oil Belt (FPO), a leading Venezuelan oil reserve, is capturing the attention of Venezuelan authorities attempting to increase the volume of domestic production of hydrocarbons.
The country has the largest proven reserves of black gold in the world, 297,570 million barrels, most concentrated in just 55,134 square kilometers of the FPO.
According to forecasts from the state Petroleos de Venezuela (PDVSA), in 2013, six new development projects in the area should bring together about 400,000 barrels of crude.
The mixed companies PetroCarabob, Petromacareo, Petroindependencia, Petrourica, Petrojunín and Petromiranda, entities in which PDVSA is partner are responsible for the development.
Production forecasts in 2012 faced logistical difficulties, with work toward a final solution being done in an accelerated manner.
To that end, Petroleum and Mining Minister Rafael Ramirez said approximately 500 kilometers of pipelines are being installed to transfer the oil to refineries.
The abovementioned plants process the heavy crude oil until it becomes light oil that can be further refined in the existing refinery center in the country.
Data released by the Panorama newspaper shows that the first objective is to add at least 150,000 barrels of oil in the first half of the year, while the rest would come in the second half.
For its part, PDVSA expects to activate a total of 200 wells in the area, which will require exploration of some 1,500 possible well sites.