President Hugo Chavez informed during Ministerial Council 625 that studies of the Mariscal Sucre gas project have proven the existence of 14.7 trillion cubic feet of gas in the Bolivarian Republic of Venezuela.
“The proven reserves could increase as the field perforation begins,” said the president, upon noting that the well “Cruz de Mayo” in the Dragon field of Margarita (on the northeastern coast of Venezuela) will generate one percent of the current production of Venezuela, situated on about 7 billion cubic feet of gas. The Venezuelan population only consumes 2 billion cubic feet and the rest is consumed by Petroleos de Venezuela (PDVSA).
Once the 36 wells are activated, they are predicted to produce 2.54 billion cubic feet, an amount greater than Venezuela’s total consumption, explained the president.
First, the gas is destined for national residential and vehicular consumption, and the development of petrochemicals and thermoelectric projects. Secondly, by 2011, exporting of liquid gas will begin.
The Venezuelan president mentioned that the Bolivarian Government has signed accords and contracts with nations such as Argentina, Portugal, and Cuba, and are in dialogue with Brazil.
“These are some fundamental strategic lines for the use of the gas that was burned here and that disappeared from here during the last century.”
The plan proposes the construction of a network of undersea gas pipelines that will converge at the Gran Mariscal Industrial Gas Center in Ayacucho (CIGMA).
The president indicated that complementary projects are being executed for the industrial development of gas; among those mentioned are the Gas Conditioning Plant and the Gran Mariscal Industrial Gas Complex in Ayacucho. Both plants are located in Güiria, Sucre, in eastern Venezuela.
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Presidential Press, Press Unit of the Embassy of the Bolivarian Republic of Venezuela in the United States. May 5, 2009