Junin 5 Oil Field

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Summary Information

  • Operator: PDVSA
  • Country: Venezuela
  • Location: Orinoco oil belt
  • Production start: 2013
  • Partners: ENI
  • Type: Oil / Gas
  • Estimated Reserves: 35 billion barrels of oil equivalent (boe) of certified oil in place
  • Production Volume:

Description

  • The Junín-5 block, currently under development, holds 35 billion barrels of oil equivalent (boe) of certified oil in place and is jointly operated by two joint ventures (Empresa Mixta) formed by PDVSA (60%) and Eni (40%): PetroJunín for the development and production and PetroBicentenario for the construction and operation of a refinery in the Jose Industrial Complex, with a 350,000 barrels per day
  • The diluted crude oil of Junín-5 will be transported to PetroBicentenario’s Refinery in Jose where it will be processed and converted into oil products (diesel, naphtha and LPG) to be exported. capacity.
  • PDVSA and Eni plan to increase production to approximately 15,000 barrels a day by the year end and subsequently to 75,000 barrels a day by early 2015, through the drilling of approximately 180 wells.
  • The development of Phase 2 (full field) will bring production to a level of 240,000 barrels a day by the end of 2018. Throughout the expected 40 years of the field life, the drilling of nearly 1500 wells is planned.

Contractors

  • Vepica: Feasibility studies and conceptual engineering

History

  • 2008 - PDVSA and Eni sign agreement to certify reserves
  • 2010 - PDVSA and Eni sign agreement to develop Junin 5 oil field
  • 2013 - Eni announces first production from the Junin-5 giant heavy oil field

Geology

Links

  1. Vepica Production Facilities References
  2. Venezuela and Italy agree on operations at the Belt
  3. PDVSA and Eni will use state of the art technology to obtain certification of Junin 5 Block
  4. PDVSA and Eni sign agreement to develop Junin 5 giant heavy oil field in Venezuela
  5. Eni announces first production from the Junin-5 giant heavy oil field in Venezuela

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