Total Signs Two Heavy Oil Study Agreements with PDVSA

Total announced the signature of two joint study agreements with PDVSA concerning the Junin 10 block in the Orinoco Belt in Venezuela.The agreements call for appraising the block’s extra-heavy crude oil reserves and examining a project to produce extra-heavy oil.

Covering nearly 600 square kilometers, the Junin 10 block is located in the Orinoco Belt, south and west of the area developed by Sincor, which is being transformed into PetroCedeno, a mixed company.

The two agreements illustrate Total and PDVSA’s commitment to maintain their cooperation over the long term, especially to develop the Orinoco Belt’s significant reserves of extra-heavy crude oil.

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