The joint venture of Chevron and PDVSA has launched its 2024 drilling campaign, drilling the first of 17 planned wells.
A joint venture of U.S. supermajor Chevron has launched its 2024 drilling campaign by drilling the first of 17 planned wells as part of a plan to boost production, the other owner of the joint venture, Venezuela’s state oil firm PDVSA, said in statement on Monday. Petroindependencia, the joint venture of PDVSA and Chevron, launched the first new well from this year’s drilling campaign. Chevron has U.S. authorization to operate in Venezuela with its joint ventures with PDVSA, while the U.S.
Chevron works in partnership with PDVSA affiliates in five onshore and offshore production projects in western and eastern Venezuela, in compliance with applicable laws and regulations, says the U.S. supermajor, which has four non-operated joint-venture operations in partnership with PDVSA. The new wells are expected to increase Chevron’s total output from its joint ventures with PDVSA in Venezuela by 35% to some 250,000 barrels per day bpd by next year.
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