VENEZUELA ENERGY IN FIGURES - Servicios IESA

According to PDVSA
Management Report 2012,
proven oil reserves stood at 297.7
billion barrels in 2012
EXPLORATION AND PRODUCTION
Reserves 2012
In accordance with official figures, Venezuela’s oil reserves are the largest in America and
worldwide. According to PDVSA Management Report 2012, proven oil reserves stood at 297.7 billion
barrels in 2012, 123 million barrels higher than 2011 due to the addition of 13 new archaeological
discoveries. This represents 54 percent of the oil reserves in the Americas and 18 percent of the world’s reserves.
OIL RESERVES IN VENEZUELA ARE DISTRIBUTED AS FOLLOWS:
BASIN
RESERVES (MMB)
Maracaibo-Falcón 19.986
Barinas-Apure: 1.191
Oriental 276.156 5
Carúpano 402
5
258,809 MMB correspond to the
reserves of the Orinoco Oil Belt, of which
3,935 are heavy oil reserves and 254,874
MMB are extra heavy crude.
Source: BP Statistical Review of World
Energy 2013 and Informe de Gestión
Anual.
Note 1: The World Total and America´s
reserves figures correspond to BP
Statistical Review of World Energy 2013.
Note 2: PDVSA assumes a recovery
factor of 20 percent as a minimum
recovery value.
1.800
1.600
1.400
1.200
1.000
800
600
400
200
0
1668.9
OIL RESERVES, 2012
(BILLION BARRELS)
548
WORLD NORTH & SOUTH AMERICA VENEZUELA
258 39
Exploration costs, mainly geophysical
expenses, increased by approximately 202
percent from 163 million dollars in 2011
to 492 million in 2012.
16
CONVENTIONAL CRUDES
HEAVY & EXTRA-HEAVY CRUDES