Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Broken_Clock who wrote (44886)	5/17/1999 6:33:00 PM
From: Tomas	Read Replies (2) of 95453

Venezuela has to spend about $2.5-3 billion annually to offset the natural decline in its oil wells. That is a lot of money to spend just to stand still. If investment were to dry up altogether, Venezuela's oil production would decline by at a rate of 23 percent per year, due to the depletion of reservoirs. Full article: ANALYSIS - Has OPEC tamed wayward Venezuela? biz.yahoo.com

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