The Venezuelan drill PDV 08, which arrived in Bolivia on July 2008, started drilling operations in the Campo Vibora, located 170 kms from Santa Cruz, Bolivia.

According to a press release, the action is included in the agreement endorsed on August 27 between Petróleos de Venezuela S.A. (PDVSA) and Bolivian state-owned company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB).

Drill PDV 08, model ZTJ 70BB made in China and property of PDVSA, is a 2000-horse-power drill that weights 1.5 tons, which allows it to reach 18,000 and 20,000 feet deep.

The shipment with the drill set sail from Guanta port (Anzoátegui state, northeast), crossed the Pacific Ocean in the ship Combi Dick and it arrived in the port of Arica in Chili.

Later on, it was transported through the Andes and then received by the Bolivian authorities, representatives of indigenous peoples and PDVSA’s Vice-president, Eulogio Del Pino.

The drilling team in Bolivia is aimed at increasing gas and oil production of Bolivia, as well as the certification of new hydrocarbon reserves that allow the country to strengthen YPFB.

Production estimated in the field Campo Vibora for this year is 5.4 million cubic feet of gas a day and 135.5 oil bpd. This drilling process will allow recover its market and will help to fulfill the gas delivery commitments in the domestic market as well as the hydrocarbon exportation towards other neighbor countries.

Bolivia’s President, Evo Morales, said that before the capitalization, YPFB had at least 17 drilling equipments that were stolen from the oil fields by neoliberal governments, so they left the country without any drill.

“There hasn’t been any drilling activity in Bolivia for 15 years and we’re now starting here. I feel it’s a symbolic coincidence. This work is not only important for YPFB but for the economic and social development of the Bolivian people,” Morales added.

Manager of PDVSA’s Services, Jesús Figueroa, said that “today we are celebrating three years of the signing of the energy agreement between Venezuela and Bolivia and three years of the creation of PDVSA Bolivia (…).”

The drilling team will be later moved to traditional and non region of hydrocarbon exploitation. It will also be used for the certification of new reserves in Bolivia.

This initiative is included in the Energy Cooperation Agreement signed by Presidents Chávez and Evo Morales on January 23, 2006; which reinforces the recovery process, the nationalization of natural resources and the reactivation of the Bolivian oil industry.

Bolivarian News Agency (ABN)

http://www2.minci.gob.ve/noticiaingles.asp?num=1942