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The Bolivar Coastal Fields (BCF), also known as the Bolivar Coastal Complex, is located on the eastern margin of Lake Maracaibo, Venezuela. [1] Bolivar Coastal Field is the largest oil field in South America with its 6,000-7,000 wells and forest of related derricks, stretches thirty-five miles along the north-east coast of Lake Maracaibo.
The Maracaibo Basin, also known as Lake Maracaibo natural region, Lake Maracaibo depression or Lake Maracaibo Lowlands, is a foreland basin and one of the eight natural regions of Venezuela, found in the northwestern corner of Venezuela in South America. Covering over 36,657 square km, it is a hydrocarbon-rich region that has produced over 30 ...
Lake Maracaibo is rich in oil and gas resources and is known as the "oil lake". [6] The first Spaniards who arrived used tar seeping from the lake to fill ship cracks. [11] The Maracaibo oil field was discovered in 1914, [15] the first oil well was constructed in 1917, and large-scale exploitation began in 1922. [6]
Lake Maracaibo, which once was at the heart of Venezuela's oil boom, has turned into a polluted wasteland, according to environmentalists. The pollution of the lake, located about 600 kilometers ...
The presence of large reserves of petroleum in the region attracted the attention of geologists and served as the base for the study of the zone between San Timoteo and Río Paují, all of which was included inside the immense reserve of petroleum (around 270,000 km²) obtained in 1909 by John Alen Tregelles, a representative of the English business "The Venezuela Development Company", during ...
By 2009, Venezuela reported 211.17 billion barrels (3.3573 × 10 10 m 3) of conventional oil reserves, the largest of any country in South America. [6] When 2015 ended, Venezuela's confirmed oil reserves were estimated to be around 300.9 billion barrels in total. In 2008, it had net oil exports of 1.189 Mbbl/d (189,000 m 3 /d) to the United ...
The Creole Petroleum Corporation was an American oil company. It was formed in 1920 to produce fields on Lake Maracaibo, Venezuela. [1] The company was acquired by Standard Oil of New Jersey in 1928. Until 1951 Creole Petroleum was the world's number one oil producer. [2] In 1950, Creole opened its refinery at Amuay bay. [3]
Intercampo Oil Field; Country: Venezuela: Region: Lake Maracaibo: Offshore/onshore: offshore: Operator: China National Petroleum Corporation: Field history; Discovery: 1960: Start of production: 1961: Production; Current production of oil: 10,000 barrels per day (~5.0 × 10 ^ 5 t/a) Estimated oil in place: 170 million tonnes (~ 201.4 × 10 ^ 6 ...