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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.
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OIL AND GAS REPUBLIC I SPECIAL EDITION