Petróleos de Venezuela announces that crude production levels have remained stable for the first quarter 2016,despite the strong financial impact of falling oil prices for more than 18 months.
These production levels have been achieved due to continued production growth at the Hugo Chávez Orinoco Oil Belt by incorporating new drilling rigs and continually improving their logistics.
On the other hand, we have limited impacts on production in conventional mature fields in the east and the west because of the length of exploitation of these fields; the difference in production is linked to the rate of decline.
This economic war has affected all of our procurement processes for the execution of our core activities, to the extent that a multinational services company has unilaterally decided to reduce its own services.
PDVSA has resisted thanks to our economic sovereignty. We have incorporated our own equipment and specialized services to manage our operations and our patriotic workers have given us their full support in all our oil activities. The company that decided to reduce its operations in the country has been quickly replaced by other companies willing to operate in Venezuela, the country with the largest oil reserves in the world.
PDVSA stands by its socialist commitment to the Bolivarian Revolution and the Venezuelan people.