Petróleos de Venezuela, known as PDVSA, is said to be preparing to restart output at its offshore Corocoro field, according to Reuters, citing oil union representative Marcos Padovani and two other unnamed sources.
The sources noted that the company is transporting an electric generator to the field for the operation.
The Corocoro field, owned 74% by PDVSA and 26% by Italy’s Eni SpA, has been quiet since 2019, when the US imposed sanctions on the company.
Padovani said state-owned PDVSA aims to produce 2,000 bpd initially, ramping up to 11,000 bpd by October.
Reuters’ sources said the company will use the medium-grade crude from the field to feed its domestic refineries.