Venezuela's offshore oil and tar belt to fight depletion

Journal Article · Thu Nov 01 04:00:00 EST 1979 · Carib-Latin Energy Consultants Ltd.; ()

OSTI ID:5289856

Venezuela has hired US offshore rigs to probe for oil in the country's continental shelf, in a race against time to replenish rapidly shrinking reserves. Both light oil and heavy oil and tars are being sought. Thirty wildcat wells are planned in the offshore area. The most promising reserve is indicated in the Orinoco heavy oil belt, which contains at least 700 billion bbl of a tarlike crude. Perhaps only 10% of the deposits can be extracted with technology presently available. An initial production target of 125,000 bpd from the belt by the late 1980s is set, aiming for a potential output of 1 million bpd by the late 1990s. Large capital costs and long lead-in times are foreseen in order to reach these production goals.

• OSTI ID: 5289856
• Journal Information: Carib-Latin Energy Consultants Ltd.; (), Journal Name: Carib-Latin Energy Consultants Ltd.; () Vol. 3:11
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200* -- Petroleum-- Reserves
Geology
& Exploration
04 OIL SHALES AND TAR SANDS
040100 -- Oil Shales & Tar Sands-- Reserves & Exploration-- (-1989)
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002 -- Energy Planning & Policy-- Petroleum
294004 -- Energy Planning & Policy-- Oil Shales & Tar Sands
BITUMINOUS MATERIALS
CAPITALIZED COST
CARBONACEOUS MATERIALS
COST
DEVELOPING COUNTRIES
DRILLING
ENERGY POLICY
ENERGY SOURCES
EXPLORATION
EXPLORATORY WELLS
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
LATIN AMERICA
MATERIALS
MINERAL RESOURCES
OFFSHORE SITES
OIL SAND DEPOSITS
OIL SANDS
PETROLEUM
PETROLEUM DEPOSITS
PRODUCTION
RESOURCES
SOUTH AMERICA
VENEZUELA
VISCOSITY
WELL DRILLING
WELLS