Venezuelan ``apertura`` invites private exploration capital

Journal Article · Mon Oct 09 00:00:00 EDT 1995 · Oil and Gas Journal

OSTI ID:116510

Carnevali, J ^[1]

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1. Petroleos de Venezuela SA, Caracas (Venezuela)

The Congress of the Republic of Venezuela on July 4, 1995, approved the conditions for an Exploration Association Contract. This action opened Venezuela to exploration for light and medium crudes by private companies in association with a special-purpose affiliate of Petroleos de Venezuela (Pdvsa). The objective of the apertura, or opening, is to attract private capital to Venezuela`s petroleum sector and thereby accelerate exploration and development of light and medium crude oil. An important parallel objective is for this incremental investment into the country to stimulate the domestic economy and encourage development and growth across all sectors. The paper discusses the geology of the four primary sedimentary basins in Venezuela, source rocks and maturity, and the costs and terms of Venezuela`s contract.

• OSTI ID: 116510
• Journal Information: Oil and Gas Journal, Vol. 93, Issue 41; Other Information: PBD: 9 Oct 1995
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
VENEZUELA
PETROLEUM DEPOSITS
SEDIMENTARY BASINS
RESOURCE DEVELOPMENT
PETROLEUM GEOLOGY
LEASING
JOINT VENTURES
ECONOMIC DEVELOPMENT
ECONOMIC POLICY
MATURATION
OIL FIELDS