PDVSA, Rosneft’s JV Petrovictoria starts pumping oil in Venezuela

MEXICO CITY, Jun 7 (PRIME) -- Petrovictoria, a joint venture between Venezuelan PDVSA, where Russian oil major Rosneft holds 40%, has started producing oil at the Orinoco Belt, in the southern strip of the eastern Orinoco River Basin in Venezuela which overlies the world's largest deposits of petroleum, PDVSA said late on Tuesday.

The first stage of the project has a capacity of 800 barrel per day.

Petrovictoria has proved crude reserves of 15.596 billion barrel, and it plans to boost output to 400,000 barrel per day.

End