North American Blue Energy Partners restarts key furnace in Venezuela
North American Blue Energy Partners has returned a furnace to service at its Zuata 2 facility, projecting an output increase of up to 10,000 barrels of oil per day.
North American Blue Energy Partners (NABEP) has resumed operations at a furnace within its Zuata 2 (Petrocedeño) facility in Venezuela following a five-year hiatus. The equipment is essential to the processing line, heating extra-heavy crude to separate water and meet quality standards for market sale.
The restart is expected to boost production by 8,000 to 10,000 barrels per day. CEO Alejandro Betancourt stated that the project utilizes previously idle infrastructure to accelerate growth and contribute to the company's overall output, which has risen from approximately 18,000 barrels per day to over 200,000 barrels in the last two years.
This operational update follows a series of expansion initiatives by NABEP in the region, including the growth of its drilling fleet to 41 rigs. The company currently holds rights to over 65 billion barrels of reserves and aims to reach a production milestone of 500,000 barrels per day by the end of 2028.