All about Orinoco

02/08/2010
Venezuela's Orinoco oil belt made headlines in January with word that the US Geological Survey had assigned the area technically recoverable volumes of 513 billion bbl of heavy oil and 135 tcf of associated-dissolved gas in Miocene sediments.USGS noted that the Orinoco is the largest accumulation it has ever assessed and is one of the world's largest accumulations of recoverable oil (OGJ Online, Jan. 22, 2010).Petroleos de Venezuela SA estimated 1.18 trillion bbl of oil in place in the Orinoco in 1987 and revised that in 2006 to a median of 1.3 trillion bbl, a maximum of 1.4 trillion bbl, and a minimum of 900 billion bbl.The following is a perspective on this enormous resource by an edito...
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