Potential oil areas of Venezuela

1 ORIENTAL BASIN: located in the central - eastern part of our country, it

occupies the States of Delta Amacuro, Monagas, Sucre, Anzoátegui, Guárico and
part of Cojedes, it has an area of 153,000km2. It limits the north with the Cordillera
del Caribe; to the south with the Shield of Guyana; to the west with the Arch of El
Baúl; and to the east it opens towards the Atlantic Ocean.

Characteristics:

It is the most important basin for the economy of our country, since it is the
largest oil production.

It is the most extensive in terms of territory.

The Orinoco oil belt is located there.

They are subdivided into three sub-basins: the Guárico sub-basin, the Maturín
sub-basin and the Paria sub-basin.

In this basin, heavy and extra-heavy crude oils are found (with gravities
ranging from 10 ° and 22.3 ° API) and they are sent to secondary markets to be
processed.

In the Orinoco Oil Belt, there is mostly heavy and extra-heavy crude that is
processed in the so-called "improvers", where it is transformed into lighter oil.

2 MARACAIBO - FALCÓN BASIN: This basin is located in the northwestern

part of the country, it occupies the states of Zulia, Falcón, part of Táchira, Mérida,
Trujillo, Lara, Yaracuy and Carabobo. It has an area of 67,000 km2. It limits to the
north with the border zone Guajira - Paraguaná; to the south east with the
Cordillera de los Andes and the central section of the cordillera de la costa; to the
northeast with the Caribbean Sea; and to the west with the Sierra de Perijá.

Characteristics:

It is the second most important basin in our country.

They have all the facilities required for the normal operation of the industry and
the development of the lives of employees, workers and families, such as:
production facilities, power plants, pipelines, roads, shipping stations, housing
estates, schools, recreation centers and recreation, sports fields, etc.
 Within this basin the sub-basins of Aroa, the Gulf of La Vela, Paraguaná and
the Gulf of Venezuela can be included.

The type of oil found in this basin is light crude (those with a gravity greater
than 31.1o API), which is more attractive to commercialize.

In the west, the pumping is one million barrels per day, an area in which there
are oil fields that are in decline although it is said that this basin has guaranteed oil
for 51 years.

3 BARINAS BASIN - APURE: it is located in the southwest of the Republic, it

encompasses the States of Apure, Barinas and part of the States of Portuguesa,
Táchira and Cojedes, it has an area of 87,000 km². Its limits are: It limits to the
northeast with the Cordillera de Mérida; southeast of the Guiana Shield; to the east
with the Arco del Baúl and to the southwest with the eastern plains of Colombia.

Characteristics:

It has not been fully commercially developed, despite having been under
exploration processes.

Considered the third important basin in Venezuela due to its volume of oil
resources.

Within the Barinas-Apure Basin there are a series of oil fields that can be of
great interest for oil exploitation. These fields have crude oil of economic
importance for the country.

These crudes have an API gravity of 28º to 30º, which classifies them as light
crudes.

The Barinas-Apure axis shows a lower production, of 81 thousand barrels per

day.

4 CUENCA TUY - CARIACO: It comprises the northeastern part of the country,

located north of the eastern basin, that is, on the northeastern edge of our coast.
Its extension is 14,000 km2. Its limits are: it extends from Barlovento, in Miranda
state, to the Gulf of Cariaco in Sucre, it is covered for the most part by the
Caribbean Sea.
Characteristics:

It is still under exploration.

It has a large reserve of liquefied gas.

It is mostly covered by the Caribbean Sea.

The Tuy and Cubagua sub-basins are found in this basin.