Total group announces production on Venezuelan gas blocks

By OGJ editors

HOUSTON, Apr. 23 -- A consortium headed by Total SA has begun producing nonassociated gas on the Yucal Placer Norte and Yucal Placer Sur blocks, which cover 900 sq km in the Guarico sub-basin of western Venezuela, said partner Repsol YPF SA.

Initial production for the two blocks was 60 MMcfd, which is expected to increase to 106 MMcfd in the fourth quarter. As of 2007, a second production phase of 300 MMcfd is anticipated.

Total holds 69.5% interest; Repsol holds 15%; and Venezuelan companies Inelectra and Otepi hold 10.3% and 5.3%, respectively.

The blocks were awarded as part of Venezuela's effort to open the gas sector to private sector investment (OGJ, July 16, 2001, p. 44). Gas production at Yucal Placer field, 100 km southeast of Caracas, ended in 1989.