The location of the Orinoco Oil Belt (blue) with respect to the East Venezuela Basin (red) Country Venezuela Region Orinoco Belt Onshore/Offshore Onshore Operator Petroleos de Venezuela SA (PDVSA)Discovery 2010 Start of Production 2012 Current Production of Oil 30,000 bpd Estimated Oil in Place 513 billion barrels Producing Formation Miocene Oficina Formation
Carabobo is an oil field located in Venezuela's Orinoco Belt. As one of the world's largest accumulations of recoverable oil, the recent discoveries in the Orinoco Belt have led to Venezuela holding the world's largest recoverable reserves in the world, surpassing Saudi Arabia in July 2010. The Carabobo oil field is majority owned by Venezuela's national oil company, Petroleos de Venezuela SA (PDVSA). Owning the majority of the Orinoco Belt, and its estimated 1.18 trillion barrels of oil in place, PDVSA is now the fourth largest oil company in the world.[1] The field is well known for its extra Heavy crude oils, having an average specific gravity between 4 and 16 °API.[2] The Orinoco Belt holds 90% of the world's extra heavy crude oils, estimated at 256 billion recoverable barrels.[1] While production is in its early development, the Carabobo field is expected to produce 400,000 barrels of oil per day.[3]
^ ab"The Orinoco Oil Belt - Update" (PDF). Retrieved 31 October 2016. {{cite journal}}: Cite journal requires |journal= (help)
^Schenk, Christopher; Cook, Troy; Charpentier, Ronald; Pollastro, Richard; Klett, Timothy; Tennyson, Marilyn; Kurschbaum, Mark; Brownfield, Michael; Pitman, Janet (October 2009). "An Estimate of Recoverable Heavy Oil Resources" (PDF). U.S. Geological Survey. Retrieved 31 October 2016. This article incorporates text from this source, which is in the public domain.
^"Venezuela: OVL's Carabobo oil field begins production". Energy-pedia. Retrieved 31 October 2016.
Carabobo is an oil field located in Venezuela's Orinoco Belt. As one of the world's largest accumulations of recoverable oil, the recent discoveries in...
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