UPDATE: In January 2015, the PetroSaudi Discoverer was reported to have docked in Malta for routine maintenance and upgrades. (Editor’s note: news of PetroSaudi’s operations in Venezuela will be relayed in a follow-up article in due course)

The Venezuelan state oil company, Petroleos de Venezuela SA (PdVSA), had leased two ships, the PetroSaudi Discoverer and the PetroSaudi Saturn to continue its Mariscal Sucre project. The ships are expected to accelerate the development of productive gas wells situated in Patao, Rio Caribe, Dragon and Mejillones fields. The fields are expected to supply the gas required by the domestic Venezuelan market.

PetroSaudi International Limited was chosen after a thorough bidding process which saw the privately held company submitting the best technical offer.

The Mariscal Sucre exploration initiative has seen a number of important developments, like a three dimensional and 2,500 square kilometer survey conducted by SCAN Geophysical of Norway over the block. PdVSA has expressed satisfaction over the results and data quality and has publicized its intention of further refining the development in the area.

The offshore production of Mariscal Sucre will not quench the domestic deficit, but is expected to improve supply and bring relief to PdVSA. According to Rafael Ramirez, the president of the state run concern and also the country’s Petroleum and Mining minister, the priority of the project is the replacement of huge volumes of liquid fuel which are utilized in Venezuela’s electrical sector.

PetroSaudi International has extensive experience of handling projects in Latin America and the Middle East. It has accumulated considerable experience in the exploration and consequent development of oilfield operations. The PetroSaudi team is noted in the industry for its skill in reservoir engineering, exploration geophysics and geology, development planning, drilling operations, export management, trading, commercial and legal issues, HSE management, environmental protection, community and public affairs, and health and safety.

PetroSaudi International is conversant with the specialized challenges of the trade in international environments and has distinguished itself by being sensitive towards the nation where it conducts its business.