How much oil is in Orinoco Belt?
The Orinoco Belt, the main oil production area in Venezuela, is a huge reserve of extra heavy crudes that are acidic and with high heavy metal content. It is estimated to contain 220 billion barrels of crude over 55,314 square kilometers in the southern states of Guarico, Anzoategui and Monagas.
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How much oil is in Orinoco Belt?
The Orinoco Belt, the main oil production area in Venezuela, is a huge reserve of extra heavy crudes that are acidic and with high heavy metal content. It is estimated to contain 220 billion barrels of crude over 55,314 square kilometers in the southern states of Guarico, Anzoategui and Monagas.
Where is the Orinoco heavy oil belt?
East Venezuela Basin Province
The Orinoco Oil Belt Assessment Unit (AU) of the La Luna−Quercual Total Petroleum System encompasses approximately 50,000 km2 of the East Venezuela Basin Province that is under- lain by more than 1 trillion barrels of heavy oil-in-place (fig. 1) (Fiorillo, 1987).
Which country’s oil belt is known as Orinoco Belt?
Venezuela
Venezuela, the Western Hemisphere’s greatest oil-exporting nation, clearly has a lot to gain from the Orinoco, especially as its daily oil production has slid to 2.2 million to 2.5 million barrels a day, from a peak of about 3.5 million barrels a day in 1997.
Where is most of Venezuela’s oil located?
The Orinoco Belt is a territory in the southern strip of the eastern Orinoco River Basin in Venezuela which overlies the world’s largest deposits of petroleum.
Where is Venezuela’s oil from?
Venezuela has been an oil producer since 1914 when the first commercial oil well, Zumaque I, was drilled in the Mene Grande field on the eastern shores of Lake Maracaibo….Venezuela’s Independence Day.
| Population (million inhabitants) | 32.37 |
|---|---|
| Proven crude oil reserves (million barrels) | 303,561 |
Where is most of the oil in Venezuela?
The Maracaibo Basin contains roughly 15% of Venezuela’s proven oil reserves, and about 50% of the crude oil export from this country originates in this basin.
What is heavy crude oil used for?
While light oils primarily used to create fuels such as gasoline, diesel and aviation fuels, heavy crudes (which also yield these transportation fuels) also provide feedstock for plastics, petrochemicals, other fuels and road surfacing.
What is the API gravity of heavy oil?
Light oil is characterized by an API gravity of at least 22°, and extra-heavy oil has an API gravity of less than 10°.
Who owns the most oil wells?
Venezuela – 304 billion barrels Venezuela has the largest oil reserves of any country in the world, with more than 300 billion barrels of proven reserves. That is a 17.5% share of the entire global resource, and in 2011 the country surpassed Saudi Arabia to top worldwide list.