Venezuela stops drilling in 17 oilfields

The last cut in oil production undertaken by Venezuela, in accordance with an agreement from Opec, has made 17 drill rigs in west and east Venezuela to come to a standstill, reported oil-sector labor agents.
Based on the news given by trade union leader Froilan Barrios, only in Boscan field, western Zulia state, a total of 14 rigs have shut down since the last week of December.
Additionally, three oilrigs in the cities of Anaco and El Tigre, eastern Anzoategui state, are not operating. Barrios fears new similar measures in that region, said a report from the Universal newspaper.
From September to December of last year, the oil business curtailed its output by 364,000 barrels per day as a result of the cuts agreed by Opec member states.
The trade union leader noted that the order to curb production in line with the oil cut is not the only reason to stop drilling, but also managerial instructions regarding business planning.
The move has resulted in at least 5000 layoffs from contractors.

(Upstream Online)


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