Sulzer and PDVSA sign five-year strategic alliance for Venezuelan oil operations
- Agreement covers five years and sets a framework for potential orders across PDVSA’s operations.
- Sulzer technologies and services are installed across PDVSA’s upstream, pipelines, refining and fuel distribution operations.
- Venezuela holds more than 300 billion barrels of oil reserves, mainly heavy and extra-heavy crude requiring specialized technology.
- The agreement was established in accordance with regulatory requirements to support planned investment and development in the oil sector.
Agreement scope
Sulzer and PDVSA signed a five-year strategic alliance that provides a long-term framework for potential future orders across PDVSA’s operations. The agreement was set up in accordance with regulatory requirements.
Operational coverage
It builds on decades of collaboration, with Sulzer technologies installed across PDVSA’s upstream, pipelines, refining and fuel distribution operations, complemented by process and equipment services.
Venezuelan context
Venezuela holds more than 300 billion barrels of oil reserves concentrated in the Orinoco Belt and the Maracaibo Lake area. Much of the resource base is heavy and extra-heavy crude, which requires specialized technologies as the country seeks to increase output and modernize production, processing and refining infrastructure.
Comment
Suzanne Thoma, Executive Chairwoman of Sulzer, said the company’s longstanding presence in the country gives deep knowledge of its industrial landscape and operational needs, and that the agreement brings together Sulzer’s capabilities to support PDVSA and contribute to its long-term development.
Source: Sulzer