ENG SP with 14Tcf Zzzzz.. Venezuela similar discovhttps://www.worldoil.com/Venezuela_gas_discovery_said_as_much_as_14_Tcf.html
Venezuela gas discovery could be 14 Tcf
Without specifying which discovery he was referring to, VenezuelanPresident Hugo Chavez said on state television yesterday that a gasfielddiscovery had been made in the Caribbean Sea offshore Venezuelathat has been shown to contain almost twice the gas reserves that itwas initially estimated to have.
Chavez said the unnamed gas well, which he termed a "super well" mayhold as much as 14 Tcf in natural gas. "We have drilled tens of wells inthe Caribbean and recently discovered a super well," he said. "A superdeposit that was at 8 Tcf and now could be as much as 14 Tcf."
It is likely the president was referring to the Eni-Repsol Perla-1gasfield discovery made last year, which at the time was lauded as thelargest gas discovery in Latin America and one of the largest in theworld at 7.7-8 Tcf. It was found with the JV's first exploration welldrilled off Venezuela in the shallow water Gulf of Venezuela's Cardon IVBlock by the jackup drilling rig Ensco 68. Since the discovery wasannounced in mid-September 2009, Eni, operator of the well, has beencarrying out reserves and production tests.
If this is the well to which Chavez was referring, Petroleos deVenezuela (PDVSA), which has the right to buy a stake in any natural gasdiscovery, will likely hold 35% once it has been declared commercial.Eni and Repsol will each have 32.5% of production. Eni operates theCardon IV Block with 50% interest, with Repsol holding the remaining50%.