A ConocoPhillips source confirmed the process for developing the shallow-water oilfield in Venezuela's Gulf of Paria has begun.
"The project has not yet been approved by Venezuela's Energy Ministry or the partners, but the pre-qualification process is under way," she said.
Other industry sources provided a wealth of detail about what the project entails.
A floating production unit (FPU), with a buoy-loaded facility, will sit at the heart of the project, standing on mooring dolphins in a water depth of just six metres.
Described
