Sulzer and Venezuela’s state oil company PDVSA have established a long-term agreement to support oil and gas operations as the country prepares for renewed investment and development.

The agreement builds on Sulzer’s existing technologies and services across PDVSA’s upstream, pipeline, refining and fuel distribution activities.

Compliant with regulatory requirements, it provides a framework for applying Sulzer’s expertise to modernise infrastructure and strengthen operations.

Venezuela holds more than 300 billion barrels of oil reserves, largely comprising heavy and extra-heavy crude that requires specialised technologies, investment and technical expertise to increase production and improve processing capabilities.

Suzanne Thoma, Executive Chairwoman of Sulzer, said: “Our longstanding presence in the country has given us deep knowledge of its industrial landscape and operational needs. This agreement brings together our broad capabilities to support PDVSA and contribute to its long-term development.” -OGN/TradeArabia News Service