Reportlinker Adds Junin 5, Venezuela, Commercial Asset Valuation and Forecast to 2052

Oct 26, 2010, 13:57 ET from Reportlinker

NEW YORK, Oct. 26 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Junin 5, Venezuela, Commercial Asset Valuation and Forecast to 2052

http://www.reportlinker.com/p0318255/Junin-5-Venezuela-Commercial-Asset-Valuation-and-Forecast-to-2052.html

Junin 5, Venezuela, Commercial Asset Valuation and Forecast to 2052

Summary

Junin 5 is located in the Orinoco heavy oil belt of Venezuela. It is an onshore heavy oil field, located 550km south-east of Caracas. The total area is 425 square km. Production from this block is expected to start by 2013 and a new oil refinery will be built at Jose.

The development right for Junin 5 was awarded to a joint venture company (Empresa Mixta) in January 2010. Petroleos de Venezuela S.A. (PDVSA) holds 60% equity stake and ENI S.p.A holds the remaining equity in the joint venture company.

Junin 5 is expected to produce extra heavy crude with 8° APl. The produced crude will be subjected to an extra heavy oil upgrader to produce synthetic crude with 32° API. Under this project, a new refinery at Jose will be built for which crude supply will come from the adjoining fields.

The total oil in place in Junin 5 is 35 billion barrels, of this 2.5 billion barrels are recoverable. The production will commence in the year 2013 and is expected to reach peak production by 2016.

Junin 5 block is expected to produce for about 40 years, ending its productive life by 2052. GlobalData estimates that Junin 5 will generate $284.82 billion in gross revenues during its useful life of 40 years and is expected to yield an IRR of around 26.4%.

Scope

- Highlights the contribution of Latin America and Africa to major offshore oil & gas discoveries during the period 2007-2010

- Analyses the major offshore discoveries in Latin America and Africa

- Provides information on the major companies involved in the offshore oil and gas discoveries in these two regions and the competitive landscape

- Highlights how Latin America and Africa are emerging as major oil and gas producing regions.

Reasons to buy

- Evaluate the potential of Latin America and Africa as major regions for offshore oil and gas production

- Compare the roles of national oil companies vis-a-vis international oil companies in developing offshore oil and gas resources in these regions

- Understand the challenges involved in developing offshore oil and gas resources in Latin America and Africa

1 Table of Contents 2

1.1 List of Tables 3

1.2 List of Figures 3

2 Junin 5, Venezuela, Introduction 4

3 Junin 5, Venezuela, Geology and Formations 6

4 Junin 5, Venezuela, Equity Partners 7

5 Junin 5, Venezuela, Crude Oil Reserves 8

6 Junin 5, Venezuela, Key Fiscal Terms 9

6.1 Royalty 9

6.2 Bonuses 9

6.3 Cost Recovery and Profit Sharing 9

6.4 Taxation 9

6.5 Tax Superficial 9

6.6 Consumption Tax Own 9

6.7 Extraction Tax 9

6.8 Export Registration Tax 9

6.9 Alternative Minimum Tax 9

6.10 Deductions and Depreciation 9

6.11 Withholding Tax 9

7 Junin 5, Venezuela, Infrastructure 10

7.1 Upstream Infrastructure 10

7.2 Midstream Infrastructure 10

7.3 Downstream Infrastructure 10

8 Junin 5, Venezuela, Development Plan, Investment and Expenditure 10

9 Junin 5, Venezuela, Production 11

10 Junin 5, Venezuela, Economics 13

10.1 Junin 5, Venezuela, Economic Assumptions 13

10.1.1 Forecast Commodity Prices 13

10.1.2 Inflation 13

10.1.3 Discount Rate and Representation of Cash Flows 13

10.1.4 Sensitivity 13

10.1.5 Access to the Economic Model 13

10.2 Junin 5, Venezuela, Cash Flow Analysis 14

10.3 Junin 5, Venezuela, Remaining PV Sensitivity Analysis 15

10.3.1 Remaining NPV Sensitivity to Discount Rates 15

10.3.2 Remaining NPV Sensitivity to Change in Commodity Prices and Production 16

10.3.3 Remaining NPV Sensitivity to Corporate Income Tax and Production Rate 17

11 Junin 5, Venezuela, Summary Cash Flows 18

11.1 Junin 5, Venezuela, Front End Load Due To Fiscal Policy 20

11.2 Junin 5, Venezuela, Tax Liabilty 22

12 Appendix 24

12.1 Methodology 24

12.2 Coverage 24

12.3 Secondary Research 24

12.4 Primary Research 24

12.5 E&P Forecasts 24

12.6 Capital Costs 25

12.7 Exploration and Appraisal (E&A) Costs 25

12.8 Operating Costs 25

12.9 Expert Panel Validation 25

12.10 Disclaimer 26

12.11 Contact us 26

1.1 List of Tables

Table 1: Junin 5, Venezuela, Key Asset Data, 2010 4

Table 2: Junin 5, Venezuela, Extra Heavy Oil Production Forecast, 2013-2052 12

Table 3: Junin 5, Venezuela, Commodity Price Assumptions, 2013-2052 13

Table 4: Junin 5, Venezuela, Project Analysis Metrics, 2010 14

Table 5: Junin 5, Venezuela, Remaining PV Sensitivity Analysis Over Discount Rate Change Vs. Commodity Price Change, $bn, 2010 15

Table 6: Junin 5, Venezuela, Remaining PV Sensitivity Analysis Over Commodity Price Change Vs. Production Change, $bn, 2010 16

Table 7: Junin 5, Venezuela, Remaining PV Sensitivity Analysis Over Corporate Income Tax Rate Vs. Production Change, $bn, 2010 17

Table 8: Junin 5, Venezuela, Asset Summary Cash Flows, $`000, 2010-2052 18

Table 9: Junin 5, Venezuela, Front End Load, $`000, 2013-2052 20

Table 10: Junin 5, Venezuela, Tax Liability Estimations, $`000, 2013-2052 22

1.2 List of Figures

Figure 1: Junin 5, Venezuela, Location Map 5

Figure 2: Junin 5, Venezuela, Junin Fields In Junin Block 5

Figure 3: Junin 5, Venezuela, Orinoco Heavy Oil Belt 6

Figure 4: Junin 5, Venezuela, Schematic Cross Section of East Venezuela Basin 7

Figure 5: Junin 5, Venezuela, Current Equity Details, 2010 7

Figure 6: Junin 5, Venezuela, Development Plan 10

Figure 7: Junin 5, Venezuela, Extra Heavy Oil Production Forecast, 2013-2052 11

Figure 8: Junin 5, Venezuela, Gross Revenue versus Tax Cash Flow Analysis, 2010-2052 14

Figure 9: Junin 5, Venezuela, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change, $bn, 2010 15

Figure 10: Junin 5, Venezuela, Remaining PV Sensitivity Analysis Over Commodity Price Change Vs. Production Change, $bn, 2010 16

Figure 11: Junin 5, Venezuela, Remaining PV Sensitivity Analysis Over Corporate Income Tax Rate Vs. Production Change, $bn, 2010 17

Companies mentioned

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Oil and Gas energy Industry: Junin 5, Venezuela, Commercial Asset Valuation and Forecast to 2052

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