Optima has an MOU with Venro Petroleum Corporation, an international oil trader with substantial contacts with refiners throughout South America. South America has some of the world’s highest concentration of heavy oils, such as Venezuela’s Orinoco Heavy Oil Belt and Brazil’s offshore Campos Basin. Additionally, this geological formation includes the world’s largest oil reserves led by Venezuela’s 300 billion barrels (Saudi Arabia 266 billion), Brazil’s 13 billion barrels and Ecuador’s 8 billion. Optima sees enormous business potential from the combination of our MOUs with FluidOil and Venro Petroleum.
Source: Jacobs Consultancy, Source (EIA, 2017)