International Paint will supply more than 1,300,000 liters of coatings for four facilities involved in heavy oil development on the Orinoco Belt of Venezuela, which has an estimated recoverable reserve of more than 270 billion barrels.
The four construction projects—Petrozuata, Cerro Negro, Sincor and Hamaca—are located near the coastal town on Jose. International Paint is the sole supplier for all four, apart from the Cerro Negro development, which has been split between several suppliers, although International has the largest percentage of the business.
International products will be used to coat refineries, chemical plants, tank farms and the marine terminal, which will transfer the crude oil to vessels ready for transportation.
(Released: April 15, 2003)