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Bluesteel Group expertise

OIL and GAS

Introduction

BULE STEEL is involved in several oil and gas projects, including joint ventures with international companies for offshore gas exploration like the Dragon field (with Shell and NGC) and the Cocuina-Manakin field (with BP and NGC). BLUE STEEL has established major joint ventures with US companies for Oil Production and Refining projects.

Oil projects

Carabobo Oil Block Project - Venezuela:

One of the largest oil projects in Venezuela, focusing on developing the heavy crude reserves in the Orinoco Belt. It is divided into several production blocks and is expected to be a major production hub. The Carabobo oil field is majority owned by Venezuela's national oil company, Petroleos de Venezuela SA (PDVSA). Owning the majority of the Orinoco Belt, and its estimated 1.18 trillion barrels of oil in place. The field is well known for its extra Heavy crude oils, having an average specific gravity between 4 and 16 °API.[2] The Orinoco Belt holds 90% of the world's extra heavy crude oils. The onshore oil field development comprises of seven production blocks on the eastern part of the Orinoco Belt which is believed to contain approximately 513 billion barrels of heavy crude oil.

Hamaca - Ameriven Syncrude Project - Venezuela:

The Hamaca ‘heavy crude’ upgrade project is one of the four projects exploiting the Venezuelan extra-heavy crude oil and bitumen deposits situated in the Orinoco heavy-oil belt, in Central Venezuela. Estimates of recoverable reserves are in excess of 1.3 trillion barrels of heavy and extra-heavy oil in a large stratigraphic trap on the southern flank of the Oriente basin. Also located in the Orinoco Belt, this project is a major source of heavy crude oil. It involves partners like Chevron and is a significant part of the country's heavy oil production.

Bicentenario Pipeline - Colombia:

The "Bicentenario" refers to a specific oil pipeline project in Colombia, operated by Oleoducto Bicentenario S.A. (OBC), which connects the Llanos basin to Arauca. The project has been operational since 2013 but has been subject to numerous attacks, leading to shutdowns and the cancellation of planned expansions. While the current pipeline is operational, its expansions were canceled due to security concerns, and it has a capacity of about 233,000 barrels per day.

  • Location: It runs from the Araguaney station in the Casanare department to the Banadía station in Arauca, connecting to the Caño Limón–Coveñas export network.
  • Capacity: Approximately 233,000 barrels per day.
  • Length: 230 kilometers (143 miles).
  • Ownership: Fully owned by Ecopetrol's subsidiary, Cenit SAS.

Cartagena Refinery – Colombia

The Cartagena Refinery is an oil refinery in Cartagena, Colombia. It is operated by Refineria de Cartagena S.A. (Reficar), a subsidiary of Ecopetrol. The refinery has a capacity of 75 thousand barrels per day. By 2013, the capacity was increased to 165 thousand barrels per day. The refinery consists of crude units, visbreaking units, fluid catalytic cracker, light products plants, polymerization plants, amine plants, sulfur plants, and impurities treatment plants.

  • Location: Cartagena
  • Capacity: 210,000 barrels per day
  • Key Role: Produces clean fuels and is among the most modern refineries in Latin America
  • Significance: Modernization efforts have significantly increased its capacity and technological capabilities

Barrancabermeja Refinery – Colombia

The biggest oil refinery in Colombia is the Barrancabermeja Refinery, with a capacity of up to 250,000 barrels per day and a historical importance as the country's main refining center.

  • Location: Santander Department
  • Capacity:Up to 250,000 barrels per day
  • Key Role: Processes crude oil into fuel products and petrochemicals, serving approximately 80% of the country's domestic fuel demand
  • Significance: Has been operating for over a century and is considered the heart of Colombia's oil industry

Gas projects

Perla gas field - Venezuela:

Considered one of Latin America's largest offshore gas fields, the Perla project is located about 50 kilometres (31 mi) offshore at the Cardón IV block. It is a significant source of natural gas for Venezuela and is producing millions of cubic feet of gas per day. At the phase I light offshore platforms were installed to utilize the wells already drilled. A pipeline was installed to a central processing facility located onshore. The phase I is expected to cost of US$1.4 billion.[1]
The field is being developed with a consortium of Repsol YPF and Eni .

Sirius offshore gas discovery – Colombia

  • Location: GUA-OFF-0 offshore block, approximately 77 km off the coast from Santa Marta.
  • Status: The discovery of the Sirius-2 well confirmed over 6 trillion cubic feet of gas, making it the largest gas find in Colombia's history.
  • Timeline: Production is expected to start between 2029 and 2030.
  • Investment: Approximately US$5 billion is expected for the project, which includes exploration and production development.
  • Significance: The project is expected to increase Colombia's gas reserves by 200% and could restore the country's natural gas self-sufficiency, reducing the need for imports.