PdVSA and Chevron to up Petroboscan output to 130,000 bopd

9/6/2012

PdVSA and Chevron to up Petroboscan output to 130,000 bopd

BY KEJAL VYAS

PUERTO LA CRUZ--Chevron and PdVSA expect to increase production at their Petroboscan joint venture to 130,000 bopd, Chevron's regional head said. A $2 billion credit line that Chevron granted to PdVSA in july will be used in increments to meet that goal, Don Stelling, head of the United States oil company's Venezuela operations, said at an energy conference here.

He didn't specify when that target would be reached.

Petroboscan operates the Boscan field in Venezuela's western state of Zulia and currently produces around 115,000 bopd. PdVSA controls 60% of the project while Chevron owns the rest.

Dow Jones Newswires

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