Last September, it announced $3.2 billion worth of integrated service contracts covering platform construction, drilling, completion and connection of wells for the Petrocarabobo, Petrovictoria and Petroindependencia projects in the Orinoco belt, with 18 rigs allocated.PDVSA said 480 wells will be drilled over 30 months, boosting output by 250,000 barrels per day.

Schlumberger, Horizontal Well Drillers and Venezuela’s Y&V were named as contractors.

Sources