In the first JV with PDVSA, Petrobras is producing less than 60,000 b/d from four fields - Oritupano Leona, La Concepcion, Mata and Acema
. This is down from 66,600 b/d in May 2007.
In early September the four fields - Oritupano Leona, La Concepcion, Mata and Acema
- were producing a total of 60,800 b/d, down from 66,600 b/d in May.
Under the same raft of agreements, Petrobras Energia and PDVSA signed transitional agreements to convert OSAs for the Oritupano-Leona, Mata, Acema
and La Concepcion areas into JVs, bringing the contracts into line with a hydrocarbons law passed by Chavez in late 2001.