20 April 2024
Total takes FID on new development phase for Yucal Placer field, Venezuela
Publication date: 10 July 2012
Gas Strategies Group
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ISSN: 0964-8496
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Total, along with partners Repsol, Inepetrol and Otepi, have taken final investment decision (FID) on a new development phase for the Ypergas-operated Yucal Placer gas field, located in Guárico State, Venezuela. The production capacity of the field is ultimately expected to reach 300 MMcf/d – three times the current production rate. The development is a small step toward commercialising Venezuela’s huge gas resource base, with upstream investment having been discouraged by low prices resulting from government subsidies.