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President Chavez Highlights Advances in Gas Field Exploration

Venezuela to become a world power in natural gas

The discovery of a natural gas field in the Gulf of Venezuela has advanced the country’s national energy plan and represents another step towards Venezuela becoming a global power in natural gas.

The announcement was made by the President of the Bolivarian Republic of Venezuela, Hugo Chávez, who emphasized that the energy sector has been accomplishing the exploration and certification of gas wells in the nation. In particular, he highlighted the recent discovery of around 10 trillion cubic feet in a well located in the north of Falcon state, in the Paraguaná peninsula.

The gas field, which is part of the Cardon 4 Block, could cover around 33 square kilometers  in which Venezuelan state company PDVSA will have 35% share,  dividing the exploration work with Repsol and ENI.

The well, explained Minister of People’s Power for Energy and Petroleum Rafael Ramírez, is part of the “Rafael Urdaneta” Project that began in 2006 in the Gulf of Venezuela. Ramirez stated that around 27 trillion cubic feet of gas will likely be located in this zone.

During the program he lamented the earthquake that shook Venezuela on Saturday and expressed his thanks that no one was hurt during the seismic event.

He reminded viewers that everyone must prepare to react efficiently during this type of natural event.

Bolivarian News Agency, Press Unit of the Embassy of the Bolivarian Republic of Venezuela to the United States  / September 14, 2009.

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