PCEC Expands in Venezuela, Aims for 40,000 BPD in Six Months
Pacific Coast Energy Co. (PCEC), a California-based oil producer, has begun operations in Venezuela and aims to double its local crude output to about 40,000 barrels per day within six months.
The company said it started operations in the Delta and Cabimas blocks in the third quarter and has reactivated more than 50 wells producing heavy crude.
The two blocks currently produce around 19,300 barrels per day, and PCEC says they have the potential to sustain a peak production of up to 160,000 barrels per day for the next 10 years.


