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CPV INTERVIEW

"We are Working on New Business Model for the Recovery

of Venezuela's Economic Activities" - Reinaldo Quintero,

CPV's President

Oil and Gas Republic talks to Reinaldo

Quintero, President of the Venezuela

Chamber of Petroleum (CPV), on the

Chamber's action plan to Harnessing

Venezuela Hydrocarbon Resources for

Economic Transformation.

Quintero: No doubt we can move forward. We are

not starting from zero. After 105 years of

experience and the largest reserves on the planet, it

needed a social consensus towards the economy. It

is clear that politics are holding the development of

this new start, but I’m sure we will solve it if we

include the stakeholders and the best interests of

our society.

Interview by: Ndubuisi Micheal Obineme

OGR: Please tell us about yourself?

Quintero: I am a materials engineer with a

master's degree in mechanical engineering

and more than 37 years of experience in

the oil and gas industry. I started my

professional career in Ferrum, where I

worked in several managing positions. In

1993, I funded Argos, dedicated to

technical services in physical assets

m a n a g e m e n t , g e o m a t i c s ,

telecommunications and process

automation.

I have developed projects for PDVSA Gas,

PDVSA E&P, and several Joint Ventures. I

have also worked in the petrochemical

complex Ana Maria Campos and Morón,

and in Edelca Guri. As well as in all the local

refineries in Venezuela and the ones

located in Aruba and Curazao.

Through my company, I have developed

projects financed by multilateral

organizations.

In the gremial area, in 2010, I became

President of the Chapter Carabobo of the

Cámara Petrolera de Venezuela. Later I

joined the National Board of Directors,

where I practised as Director and Vice

President.

Since 2018, I am the President of the

organization. In 2020, I was re-elected for a

second period.

OGR: Following years of crisis in

Venezuela, what steps should be taken to

improve the country's business

environment?

Quintero: The first steps to improve the

business environment in the country

would include rebuilding confidence and

credibility. It is also important to think out

of the political box, so the economy can be

the priority. This can be achieved if we

reach a consensus towards the priorities of

the economic needs of the country.

Reinaldo Quintero, President of the Venezuelan

Chamber of Petroleum

OGR: Over the years, Venezuela has had the

largest oil reserves in the world of about 304

billion barrels - accounting for 17.5% of global

hydrocarbon resources. What role is the

Venezuelan Chamber of Petroleum playing

towards harnessing these resources for

economic transformation?

Quintero: For the last 3 years, we have been

presenting proposals to the public sector and

the nation, through a portfolio with projects

and alternative business models, to work along

the whole hydrocarbons value chain, under a

competitive approach and in a transparent

environment.

Those projects have been prioritized according

to the need of increasing the oil output to our

historical average of 1.5 million barrels per day.

Aiming the 3 million goals in the close future (3

to 5 years).

Our proposal also included midstream and

downstream projects, such as the recovery of

the refining capacity to its 40% and some of the

petrochemical processes, like the production of

fertilizers, and plastics raw materials.

To develop this plan, it is necessary to recover

the gas supply. Therefore, we will need to stop

flaring the gas, mainly in North Monagas and

Maracaibo Lake, and enforce the existing gas

licenses with the key players.

Our role is to promote and develop the

conditions to activate the huge base of

resources we have as a nation and move

forward with the implementation of the

existing projects.

OGR: Are you optimistic about the future of

the Venezuelan energy sector despite recent

declines in oil production?

The latest opportunities are focused on the opening

to new business models with the private sector as

key players.

OGR: What's the strength and capacities of the

CPV in the international market?

Quintero: We have a strong experience and

accumulated substantial capabilities developed

during the 105 years of the industry in Venezuela

and the 43 years as a Chamber.

Most of our associates have developed careers and

projects around the world, including not only the

region but North America, Asia, Africa, Middle East

and Europe.

OGR: What has the CPV achieved over the past

years?

Quintero: From the beginning of the industry, we

have played a key role as national content along

with the public sector (PDVSA), working and

building the infrastructure and creating through our

products and services the local resources to sustain

all the processes of the industry, not only as physical

assets but also with human resources.

We have 383 companies affiliated with the

Venezuelan Chamber of Petroleum that work in the

following sub-sectors: manufacturers, suppliers,

construction, engineering and integrated services,

technical and technological services, operators,

well services and associated services.

As the organization that groups the private

companies of the oil sector in Venezuela, We have

been working on new business models to achieve

the recovery of our main economic activity and the

progress of our country.

54

OIL AND GAS REPUBLIC I SPECIAL EDITION

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