Oil firms forming Venezuela Carabobo consortiums
Reuters
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CARACAS (Reuters) - Nineteen companies that have shown interest in the tender for Venezuela's Carabobo heavy crude blocks are jostling to form consortiums to present bids for the three areas on offer, industry sources said.
The Carabobo Project aims to build three upgraders to turn the Orinoco belt's tar-like crude into oil for exports and produce around 200,000 barrels per day, with the initial investment seen between $10 billion and $20 billion per area.
A number of possible partnerships are in the works, although none are finalized, company and government sources with knowledge of the process told Reuters in recent days.
A partnership between state-run China National Petroleum Corp and France's Total (TOTF.PA) is on the table along with another between CNPC and refiner Sinopec Corp
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