Junin-5 Oil Field
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Summary Information
- Operator: PDVSA
- Country: Venezuela
- Location: Orinoco oil belt
- Production start: 2013
- Partners: ENI
- Type: Oil / Gas
- Estimated Reserves: 35 billion barrels of oil equivalent (boe) of certified oil in place
- Production Volume:
+++ Description
- The Junín-5 block, currently under development, holds 35 billion barrels of oil equivalent (boe) of certified oil in place and is jointly operated by two joint ventures (Empresa Mixta) formed by PDVSA (60%) and Eni (40%): PetroJunín for the development and production and PetroBicentenario for the construction and operation of a refinery in the Jose Industrial Complex, with a 350,000 barrels per day
- The diluted crude oil of Junín-5 will be transported to PetroBicentenario’s Refinery in Jose where it will be processed and converted into oil products (diesel, naphtha and LPG) to be exported. capacity.
- PDVSA and Eni plan to increase production to approximately 15,000 barrels a day by the year end and subsequently to 75,000 barrels a day by early 2015, through the drilling of approximately 180 wells.
- The development of Phase 2 (full field) will bring production to a level of 240,000 barrels a day by the end of 2018. Throughout the expected 40 years of the field life, the drilling of nearly 1500 wells is planned.
+++ Contractors
- **Vepica:** Feasibility studies and conceptual engineering
+++ History
- 2008 - PDVSA and Eni sign agreement to certify reserves
- 2010 - PDVSA and Eni sign agreement to develop Junin 5 oil field
- 2013 - Eni announces first production from the Junin-5 giant heavy oil field
+++ Geology
+++ Links
- Vepica Production Facilities References
- Venezuela and Italy agree on operations at the Belt
- PDVSA and Eni will use state of the art technology to obtain certification of Junin 5 Block
- PDVSA and Eni sign agreement to develop Junin 5 giant heavy oil field in Venezuela
- Eni announces first production from the Junin-5 giant heavy oil field in Venezuela
