Petróleos de Venezuela (PDVSA) has selected a Chevron-led consortium to negotiate a project comprising three blocks in the Orinoco Oil Belt of eastern Venezuela.
The three blocks have a combined area of 215 square miles situated in the eastern area of Faja.
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The consortium of Chevron, INPEX Corporation, Mitsubishi Corporation and Suelopetrol is expected to hold 40% in the joint company for the project, while the rest is held by PDVSA.
Chevron currently holds interests in ventures including PetroPiar, PetroBoscan, PetroIndependiente and Plataforma Deltana.
