Venezuela power policy guidelines until the year 2030 are drawn up in the appropriately named,"Oil Sowing Plan”, which includes six impressive development projects and consists of two stages:  one to be executed in the period 2005-2012, and the other, to be developed in the second stage, 2012 and 2030. 

For the first period of this Plan, an overall investment of around $56,000 billion has been estimated between 2005 and 2012. 70% of that amount will be financed by Venezuela -- state operator -- and the rest by the private sector. 

Oil Sowing Plan 2005-2012 includes six fundamental axes: 

1.-Magna Reserve:  Destined toward the Quantifying and certifying of oil reserves in the Orinoco Oil Belt; thus, an integrated geological study will be made of these reserves. Let us remember that Venezuela has (excluding the Orinoco Belt, 77 billion barrels of petroleum, whereas in the vast Orinoco zone, 235 million barrels are registered. 

2. - Orinoco Project: In charge of developing the Orinoco Belt. Twenty-seven blocks have been selected for development under this project with the cooperation of selected companies. Because of the strategic location of this hydrocarbon reservoir, it is considered of vital importance in reducing levels of overcrowding in some parts of the country and providing local employment. Services and housing will be developed to guarantee adequate oil exploitation.

 3. - Delta-Caribbean Project:  Gas will be incorporated to the country energy supply. This project pursues offshore gas development in the Deltana Platform off the coast of eastern Venezuela. Further developments are located in the Paraguaná Peninsula, to the north-west of the country. 

4. - Refinement:  To increase refinement capacity in Venezuela is one of PDVSA’s strategic goals. Oil Sowing Plan undertakes the creation of new refineries: Cabruta (with capacity for 400,000 extra-heavy crude barrels per day), Batalla de Santa Ines (50,000 barrels) and Caripito (50,000 barrels per day destined to asphalt production).  With these three new refineries and the improvement of the existing ones, PDVSA’s processing capacity on Venezuelan soil will be increased to 700, 000 barrels a day. 

5. - Infrastructure: More filling centers and pipelines will be set up to guarantee fuel supplies to the whole nation. The agreement for the construction of the Transguajiro gas pipeline between Venezuela and Colombia  has been signed.

6. - Integration: Oil is the resource that will integrate all the peoples of Latin America and the Caribbean. Venezuela will directly supply volumes of crude and oil products to the Caribbean through Petrocaribe, which also foresees the expansion of refining capacity in that region. Additionally, the Petrosur agreement has been signed leading to advances in the planning of projects in South America. An announcement will be made soon regarding the final location of a refinery that will be built close to Petrobras Company in Brazil.