Resumen de Venezuela looks to cheaper iron ore to replace barite in drilling fluid
The dollar-starved South American oil exporter is looking to local materials to replace imported barite in drilling mud.
Venezuela’s cash-starved state-owned oil company, PDVSA, is turning to local iron ore to replace expensive barite as a weighting agent in drilling fluids.
PDVSA could save around $100 million per year by substituting iron oxide for dollar purchases of barite in drilling mud, it believes.
Intevep, PDVSA’s research subsidiary, has developed a drilling fluid using iron ore mined in Bolivar state from Siderúrgica de Venezuela - Ferrominera del Orinoco Corp.
