Asset Report

Petromonagas (Cerro Negro)

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30 April 2018

Petromonagas (Cerro Negro)

Report summary

Petromonagas (formerly Cerro Negro) is one of the four original Strategic Association projects in Venezuela's Orinoco Heavy Oil Belt (the Faja). It was the second to be brought on-stream. As with the other three projects, Petromonagas is an integrated project involving the exploitation of extra-heavy oil (XHO) and upgrading it into a lighter syncrude (synthetic crude). The Petromonagas upgrader is the least sophisticated of the four projects and its syncrude is the heaviest at 16.5° ...

Table of contents

  • Key facts
    • Summary
    • Key issues
      • Rosneft's increased stake opposed by national assembly
      • Further expansion of upgrader
      • Upgraded crude could be used as diluent for new Faja projects
  • Location maps
  • Participation
    • Reservoirs
    • Recovery factors and enhanced oil recovery
    • Structure
  • Exploration
  • Reserves and resources
    • Initial production phase (1999 to 2001)
    • Syncrude production phase (2001 to present)
    • Gas production
    • Wells
    • Early drilling programme
    • Recent drilling
    • Future drilling
    • Pipeline
    • Field facilities
    • Upgrader
    • Solids handling facilities
    • Capital costs
    • Operating costs
    • Extra-heavy oil
    • Syncrude
    • Coke and sulphur
    • Gas
    • Royalty
    • Corporate income taxes
    • Windfall taxes
    • Cash flow
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Global Economic Model (GEM) file
  • Economic analysis

Tables and charts

This report includes 22 images and tables including:

  • Key facts: Table 1
  • Index Map
  • Detail Map
  • Participation: Table 1
  • Reserves and resources: Table 1
  • Cash Flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2018)
  • Remaining PV Price Sensitivities
  • Geology: Table 1
  • Production: Table 1
  • Production: Table 2
  • Production Profile
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Sales contracts: Table 1
  • Fiscal and regulatory: Table 1

What's included

This report contains:

  • Document

    Petromonagas (Cerro Negro)

    PDF 5.06 MB

  • Document

    Petromonagas (Cerro Negro)

    XLS 567.50 KB

  • Document

    Petromonagas (Cerro Negro)

    ZIP 5.47 MB