PDVSA Business Plan: Company output capacity to 5.5 mln bpd by 2006
Venezuela's oil company PDVSA will increase its crude oil production capacity of 5.5 million barrels per day (bpd) by 2006, according to PDVSA's business plan, released in its web page on Monday.
Venezuela's officials have said in numerous occasions that the present PDVSA's and its associated private companies partners have at the present a production capacity of 4 million bpd.
"It is predicted (PDVSA) will reach a total production capacity, including participation with third parties, of 5.5 million barrels a day by 2006," said PDVSA in a statement on its business plan.
PDVSA said it would focus on expanding its production of light and heavy cruds and improving the secondary recovery at existing wells to meet the production capacity goal.
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