Oil, gas potential seen on 10 Venezuelan blocks

Journal Article · Mon Sep 18 00:00:00 EDT 1995 · Oil and Gas Journal

OSTI ID:103975

Croft, G D; Stauffer, K W ^[1]

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1. Pantera Petroleum Inc., San Leandro, CA (United States)

Venezuela`s congress approved on July 4, 1995, the offering of 10 exploration blocks after several months of discussions. This is the first new offering of exploration acreage in Venezuela since 1958. Terms for the offering include a sliding-scale royalty, various taxes, a fixed work commitment, and a government participation share. This last parameter is offered by the bidder, with the largest participation share being the winning bid. the blocks are located in different parts of the country, but all 10 are located in basins that are prolific oil and gas producers. A brief summary of the petroleum geology of each block is given.

• OSTI ID: 103975
• Journal Information: Oil and Gas Journal, Vol. 93, Issue 38; Other Information: PBD: 18 Sep 1995
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
03 NATURAL GAS
VENEZUELA
SEDIMENTARY BASINS
PETROLEUM GEOLOGY
PETROLEUM DEPOSITS
NATURAL GAS DEPOSITS
RESOURCE POTENTIAL
LEASING
MAPS
SOURCE ROCKS
CONSTRAINTS