Venezuela’s idled Nabarima floating storage and offloading (FSO) facility is under repairs, Reuters reported, citing a source familiar with the matter. The FSO, located off the country’s eastern coast in the Paria Gulf between the country and Trinidad and Tobago, is at an incline and raises concerns among environmental groups of a potential oil leak. The FSO is operated by Petrosucre, a 74/26 joint venture between PDVSA and Eni. Petrosucre suspended operations at the facility in early 2019 after US sanctions prohibited US-based Citgo Petroleum Corp. from buying crude from the facility.
When abandoned, the Nabarima stored about 1.3 million barrels of Corocoro crude that remained stuck inside until now. The source said that workers are currently replacing the facility’s valves. However, it remained unclear whether Petrosucre hired the crew or it was Eni. Eni said last week that it had requested Washington to allow offloading crude from the Nabarima. Meanwhile, PDVSA has not made any comments regarding the matter.
