CPV INTERVIEW"We are Working on New Business Model for the Recoveryof Venezuela's Economic Activities" - Reinaldo Quintero,CPV's PresidentOil and Gas Republic talks to ReinaldoQuintero, President of the VenezuelaChamber of Petroleum (CPV), on theChamber's action plan to HarnessingVenezuela Hydrocarbon Resources forEconomic Transformation.Quintero: No doubt we can move forward. We arenot starting from zero. After 105 years ofexperience and the largest reserves on the planet, itneeded a social consensus towards the economy. Itis clear that politics are holding the development ofthis new start, but I’m sure we will solve it if weinclude the stakeholders and the best interests ofour society.Interview by: Ndubuisi Micheal ObinemeOGR: Please tell us about yourself?Quintero: I am a materials engineer with amaster's degree in mechanical engineeringand more than 37 years of experience inthe oil and gas industry. I started myprofessional career in Ferrum, where Iworked in several managing positions. In1993, I funded Argos, dedicated totechnical services in physical assetsm a n a g e m e n t , g e o m a t i c s ,telecommunications and processautomation.I have developed projects for PDVSA Gas,PDVSA E&P, and several Joint Ventures. Ihave also worked in the petrochemicalcomplex Ana Maria Campos and Morón,and in Edelca Guri. As well as in all the localrefineries in Venezuela and the oneslocated in Aruba and Curazao.Through my company, I have developedprojects financed by multilateralorganizations.In the gremial area, in 2010, I becamePresident of the Chapter Carabobo of theCámara Petrolera de Venezuela. Later Ijoined the National Board of Directors,where I practised as Director and VicePresident.Since 2018, I am the President of theorganization. In 2020, I was re-elected for asecond period.OGR: Following years of crisis inVenezuela, what steps should be taken toimprove the country's businessenvironment?Quintero: The first steps to improve thebusiness environment in the countrywould include rebuilding confidence andcredibility. It is also important to think outof the political box, so the economy can bethe priority. This can be achieved if wereach a consensus towards the priorities ofthe economic needs of the country.Reinaldo Quintero, President of the VenezuelanChamber of PetroleumOGR: Over the years, Venezuela has had thelargest oil reserves in the world of about 304billion barrels - accounting for 17.5% of globalhydrocarbon resources. What role is theVenezuelan Chamber of Petroleum playingtowards harnessing these resources foreconomic transformation?Quintero: For the last 3 years, we have beenpresenting proposals to the public sector andthe nation, through a portfolio with projectsand alternative business models, to work alongthe whole hydrocarbons value chain, under acompetitive approach and in a transparentenvironment.Those projects have been prioritized accordingto the need of increasing the oil output to ourhistorical average of 1.5 million barrels per day.Aiming the 3 million goals in the close future (3to 5 years).Our proposal also included midstream anddownstream projects, such as the recovery ofthe refining capacity to its 40% and some of thepetrochemical processes, like the production offertilizers, and plastics raw materials.To develop this plan, it is necessary to recoverthe gas supply. Therefore, we will need to stopflaring the gas, mainly in North Monagas andMaracaibo Lake, and enforce the existing gaslicenses with the key players.Our role is to promote and develop theconditions to activate the huge base ofresources we have as a nation and moveforward with the implementation of theexisting projects.OGR: Are you optimistic about the future ofthe Venezuelan energy sector despite recentdeclines in oil production?The latest opportunities are focused on the openingto new business models with the private sector askey players.OGR: What's the strength and capacities of theCPV in the international market?Quintero: We have a strong experience andaccumulated substantial capabilities developedduring the 105 years of the industry in Venezuelaand the 43 years as a Chamber.Most of our associates have developed careers andprojects around the world, including not only theregion but North America, Asia, Africa, Middle Eastand Europe.OGR: What has the CPV achieved over the pastyears?Quintero: From the beginning of the industry, wehave played a key role as national content alongwith the public sector (PDVSA), working andbuilding the infrastructure and creating through ourproducts and services the local resources to sustainall the processes of the industry, not only as physicalassets but also with human resources.We have 383 companies affiliated with theVenezuelan Chamber of Petroleum that work in thefollowing 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 privatecompanies of the oil sector in Venezuela, We havebeen working on new business models to achievethe recovery of our main economic activity and theprogress of our country.54OIL AND GAS REPUBLIC I SPECIAL EDITION
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