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Gulf Of Paria News

13 Aug 2021

Report: PDVSA Set to Restart Production from Corocoro Offshore Oil Field

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

Venezuela's national oil company PDVSA is reportedly preparing to resume production from the Corocoro offshore oil field.Reuters said Thursday, citing people familiar with the matter, that PDVSA would use the Cororoco oil to feed its refineries.The Corocoro oil field, in which the Italian oil firm Eni is a partner as part of the Petrosucre consortium with PDVSA, is located in the Gulf of Paria.The offshore site caught media attention last year when the FSO (floating, storage, and offloading unit) Nabarima…

09 Apr 2021

Venezuela: FSO Nabarima Finally Offloads Crude, Paving Way for Offshore Field Output Restart

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

A floating facility off the Venezuelan coast has finished offloading crude stored in it for the past two years due to U.S. sanctions, paving the way for output to resume in an oilfield, an official of the facility's operator said on Thursday.Operations to remove crude from the Nabarima floating storage and offloading facility (FSO), anchored in the eastern Gulf of Paria near the maritime border with Trinidad and Tobago, started in December. The crude had been stored there since…

16 Dec 2020

Venezuela: PDVSA Starts Oil Transfer from Troubled Offshore Facility to Barge

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

Venezuelan state oil company Petroleos de Venezuela has begun transferring crude off of an offshore oil facility where governments in two neighboring countries have voiced concerns about a potential spill, two people familiar with the matter said on Tuesday.The company this week began the first of several transfers from the Nabarima floating storage and offloading facility (FSO), anchored in the Corocoro oilfield off Venezuela's eastern coast, onto the Inmaculada barge, said the people…

03 Sep 2020

PDVSA, Eni Looking at Options to Offload Oil from Idle FSO

Venezuela's state-run PDVSA and Eni are looking at options to safely offload crude from a floating storage facility on Venezuela's eastern coast that has remained idle for over a year due to U.S. sanctions, according to sources close to the discussions and a statement from the Italian oil company.The companies suspended output at their joint venture Petrosucre shortly after Washington imposed sanctions on PDVSA in January 2019, depriving the partnership of its main crude buyer, PDVSA's U.S.-based refining subsidiary Citgo Petroleum.About 1.3 million barrels of Corocoro crude stored at the FSO (floating storage and offloading facility) have remained stuck in the vessel…

27 Mar 2015

TDDCL Seeks Input for New Repair Yard

Image: TDDCL

The Trinidad Dry Dock Company Limited (TDDCL) has invited companies to submit proposals to conduct an Environmental Impact Assessment and Geotechnical Investigation for a new ship repair yard development project at Port of Spain. TDDCL has executed a Memorandum of Agreement with Invest Trinidad and Tobago (InvesTT), which is empowered by the Government of the Republic of Trinidad and Tobago to facilitate the future development and operation of the Port of Spain Dry Docks on the reclaimed 140-acre Sullivan Island.

23 Dec 2013

The Trinidad & Tobago Maritime Sector

The recent 2013-14 National Budget of Trinidad and Tobago firmly highlighted the government’s intention to endorse Shipbuilding and Repair as a means of diversifying our traditional oil and gas economy. Trinidad & Tobago is in the middle of the world’s shipping lanes with an approximate 31,000 voyages per year passing within 25 nautical miles, positioning the location as an attractive choice for vessels traversing these principal routes. In addition, approximately 14,000 oceangoing vessels pass through the Panama Canal each year and this is expected to double after mid-2015…

13 Nov 2013

Oldendorff, United Bulk Offer Demurrage Free Top-Off Service

United Bulk Terminals USA Inc. and Oldendorff Carriers GmbH & Co. KG announced a cooperative agreement to market combined loading and shipping of coal and petroleum coke in capesize vessels from the U.S. Gulf Coast to India and East Asia. The new service includes United Bulk Terminals export terminal in Davant, Louisiana and Oldendorff’s top-off installation in Trinidad. For the first time customers are able to book fully loaded capesize vessels from the U.S. Gulf Coast at a very competitive fixed rate, face no demurrage risk and receive high quality professional service from two market leaders. Customers will be quoted one competitive and all-inclusive freight rate for loading of a capesize vessel up to maximum available draft (approximately 47ft / 120…

22 Nov 2005

PDVSA (Venezuela) To Tender Seven Offshore Blocks

Venezuela's state oil firm PDVSA could tender exploration and production licenses on seven offshore natural gas blocks in eastern Venezuela in 2006, according to a Business News: Americas report. In the Deltana Platform area there are five blocks, with two in the Gulf of Paria. There are plans to accelerate offshore exploitation, for which licenses are required. PDVSA will partner with Brazil's federal energy company Petrobras to explore four other blocks in the Mariscal Sucre region, according to the report. PDVSA recently awarded three offshore gas blocks in western Venezuela in the second phase of the Rafael Urdaneta project but plans to carry out more seismic studies in the area before restarting the project in 2007.

07 Aug 2001

Petrotin Moves Ahead With Offshore Exploration Joint Venture

Venezuela has given the state-owned Petroleum Company of Trinidad and Tobago, also known as Petrotrin, approval to enter a joint venture to explore an offshore oil field near the maritime border of the South American nation with Trinidad. Petrotrin reportedly would take a 50 percent interest in the Gulf of Paria East block, a stake that was previously held by Enron Corp., the Number one U.S. natural gas and electricity marketer. No financial details of the deal were immediately available. A test well at the block produced 3,000 barrels a day of oil in February. Its Venezuelan operator Inelectra had said it would seek a partner with the financial muscle to help develop the field.

11 Apr 2003

ConocoPhillips Approves Corocoro Development Plan

Conoco Venezuela C.A., a unit of ConocoPhillips, and its partners have received approval for Phase I of the development plan for the Corocoro field in Venezuela's Gulf of Paria West area. The approval was granted by the Control Committee, comprised of representatives of the Ministry of Energy and Mines, Petróleos de Venezuela, S.A. (PDVSA) and the partners. The total investment for the Corocoro Phase I development is estimated at $480 million over the next three years. The development is expected to achieve average annual oil production of 55,000 gross barrels per day, with a gravity of 24.5 degrees API, approximately two and a half years after development begins. Additional phases will be considered based on the success of Phase 1.