US oil company PCEC enters Venezuela, plans to double production within six months

智通财经2026/10/07 14:06

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(1) California-based oil producer Pacific Coast Energy Co. has started operations in Venezuela and plans to double local crude oil production to 40,000 barrels per day within the next six months. (2) The company said on Wednesday that it had commenced operations in the Delta and Cabimas blocks in the third quarter this year and had reactivated over 50 wells producing heavy crude oil. (3) Currently, the two blocks operated by PCEC have a combined daily production of approximately 19,300 barrels. (4) The company stated that these two blocks have the potential to maintain a peak daily output of up to 160,000 barrels for the next ten years.

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