The American corporation Chevron will formalize new agreements with the state-owned Venezuelan company PDVSA to increase its extractive activity in the Orinoco Belt. This move aims to boost extra-heavy crude production in one of the world's largest reserves. The context is marked by relaxations in international sanctions, allowing foreign companies to resume and expand operations in the country.
Technology for Extra-Heavy Crude and Enhanced Recovery 🛢️
Exploitation in the Orinoco Belt requires specific techniques due to the viscosity and density of the crude. Chevron will likely apply thermal recovery technologies, such as steam injection, to reduce the oil's viscosity and facilitate its flow to the wells. The joint operation may also involve modernizing dilution and transportation infrastructure, key for handling the projected volumes.
More Oil for When the Energy Transition Gets Distracted 😏
Just when the world is talking about renewable energy, this alliance shows that the heavy crude business still has its niche. It's like opening a new video rental store branch in the middle of the streaming era, but with wells instead of movies. At least it will guarantee work for the machines that clean up oil spills, because that oil isn't going to extract itself.