Pearl heightens Venezuela’s gas lustre

Repsol claims its Pearl discovery offshore Venezuela could be the country’s largest gas find to date, with reserves estimated at 7-8 tcf.

Offshore staff

MADRID, Spain -- Repsol claims its Pearl discovery offshore Venezuela could be the country’s largest gas find to date, with reserves estimated at 7-8 tcf.

The company drilled the Pearl-1 well in partnership with Eni in the Gulf of Venezuela in a water depth of 60 m (197 ft). Initial analysis suggests a reservoir 33 sq km (12.7 sq mi) in area and 240-m (787-ft) thick, although this data may change following the conclusion of the current well test.

Assuming the field moves forward to development, PDVSA will have a 35% stake with Repsol and Eni each retaining 32.5%.

09/14/2009

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