Jan 26, 2010

Venezuela's recoverable heavy oil reserves are big...

US Geological Survey - An estimated 513 billion barrels of technically recoverable heavy oil are in Venezuela's Orinoco Oil Belt.

This is the largest accumulation ever assessed by the USGS. The estimated petroleum resources in the Orinoco Oil Belt range from 380 to 652 billion barrels of oil (at a 95 and 5 percent chance of occurrence, respectively). The Orinoco Oil Belt is located in the East Venezuela Basin Province.

The USGS conducted this assessment as part of a program directed at estimating the technically recoverable oil and gas resources of priority petroleum basins worldwide. To learn more about this assessment, read the fact sheet, "An Estimate of Recoverable Heavy Oil Resources of the Orinoco Oil Belt, Venezuela" and visit the USGS Energy Resources Program web site.

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