MercoPress. South Atlantic News Agency

Venezuela with New Oil Reserves

Monday Venezuela has tested oil reserves up to 87.6 billion barrels at its disposal, after incorporating 609 million barrels certified by the international company Ryder Scout in Orinoco Strip.

During an act on Monday, with participation and aid of Venezuelan and Brazilian Presidents Hugo Chavez and Luiz Inacio Lula da Silva, respectively, Power and Oil Ministry Rafael Ramirez, ratified the incorporation of the aforementioned volume to the country.

Carabobo bloc, which will be drilled by state companies Petrobras and Petroleos de Venezuela S.A. (PDVSA), has reserves tested at 45.5 billion barrels.

Ramirez indicated those volumes will guarantee refining plant operations in the Brazilian locality of Pernambuco.

He recalled the Orinoco Strip has 26 billion barrels of heavy crude oil, which with the current ones will lead the country to first place in hydrocarbon liquid assets.

For the exploration and production of the strip, oil companies from countries like China, Vietnam, Iran, India, Byelorussia, Spain, Russia, Noriega, Brazil, Argentina and Uruguay have been called.