Offshore staff

(Venezuela)- Venezuela's state oil firm Pdvsa could allow another company to buy into block 1 of its Plataforma Deltana natural gas E&P project, according to Pdvsa Gas VP Felix Rodriguez.

During the 17th International Gas Convention this past week in Caracas, Rodriguez said that when the Deltana blocks were awarded, block 1 was reserved for Pdvsa. This will most likely change, as Rodriguez has been tasked with boosting Venezuela's natural gas output; allowing a third party into block 1 is seen as one way of accomplishing this.

"In block 1 it would be us participating with a percentage plus maybe the help of a minority partner to complements us," Rodriguez said. Offshore experience would "of course" be a plus, the official added.

"A new business scheme will come but in accordance with what the energy and oil ministry tells us," he said.

None of the four Deltana blocks where exploration is proceeding has yet declared commerciality. US major Chevron, which is exploring in two of those blocks, has reportedly located 7 tcf of proven reserves. Norway's Statoil interrupted its program there last year and has yet to resume work.

Venezuela is currently producing some 6.3-6.5 bcf/d of gas but needs 1-1.4 bcf/d more to prop up sagging crude production and increase its much-needed thermal generation.

5/28/2006