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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 ]
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.
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 ...
Puerto Miranda is an oil port situated on the east side of Lake Maracaibo in Venezuela opposite the city of Maracaibo and is operated by the Venezuelan State Oil Company (PDVSA PETROLEO, S.A.) [1] It is the largest crude oil export port in South America.
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]
Venezuela’s government in 2016 established a huge mining development zone stretching across the central area of the country, to supplement flagging revenue from its dominant oil industry, which ...
The complex is located in the Paraguaná Peninsula in Falcón state (Amuay and Cardón refineries) and the western coast of Lake Maracaibo in the Zulia state (Bajo Grande Refinery). [3] The complex accounts for 71% of the refining capacity of Venezuela and it belongs to the state-owned company Petróleos de Venezuela (PDVSA). [4]