Report summaryThe Falcón Este block is situated on the Caribbean coast of Venezuela and encompasses two mature oil and gas fields, Cumarebo and La Vela. Cumarebo was reactivated in 1996, but liquids production remains low. The second field, La Vela, initially produced liquids intermittently under an extended test permit and was brought fully onstream in 2004.Prior to the block's conversion to an empresa mixta in 2006, two gas sales addendums were secured between PetroFalcon and PDVSA. The ...
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