Sulzer and PDVSA have worked together across a broad range of oil and gas applications. Sulzer technologies are installed across PDVSA’s upstream, pipeline, refining and fuel distribution operations, complemented by extensive process and equipment services. The new agreement, set up in accordance with regulatory requirements, provides a long-term basis to apply this expertise as Venezuela enters a new phase of investment and development in its oil and gas sector. 

Venezuela holds one of the world’s largest oil reserves, at more than 300 billion barrels, mainly concentrated in the Orinoco Belt and the Maracaibo Lake area. Much of Venezuela’s resource base consists of heavy and extra-heavy crude, requiring specialized technologies. As the country seeks to increase output, its oil industry will require continued investment, technology and expertise to strengthen and modernize production, processing and refining infrastructure. 

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.”

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