VENEZUELA ENERGY IN FIGURES - Servicios IESA

EXPLORATION AND PRODUCTION
PRODUCTION IN 2012 ACCORDING
TO INTERNATIONAL SOURCES
According to the monthly report of May 2013
of the Organization of Petroleum Exporting
Countries (OPEC) Venezuela´s oil production in
2012 was 2.360 million barrels per day, about 8
percent lower than in 2008. This level of
production, according to OPEC, takes into
account the amount of conventional crude oil
production and the production of extra-heavy crude
from the Orinoco Belt, once upgraded. This figure
does not include condensed liquids nor natural gas
liquids. This explains in part the difference with other
international sources such as BP and official sources,
both of which consolidate all production in one figure.
VENEZUELAN MONTHLY OIL PRODUCTION
ACCORDING TO OPEC, DECEMBER
2001-DECEMBER 2012
According to BP Statistical Yearbook 2013,
Venezuela’s oil production was 2.725 million
barrels per day in 2012, the associated liquids include
crude oil and natural gas. That level of production
represents approximately 12 percent of the
continent’s production and 3 percent of world
production.
Relative to the magnitudes reached towards the end
of the last decade, there has been a downward trend
in the last nine years. Production has fallen by about
13 percent from its value in the year 1999 compared
to 2012.
VENEZUELAN MONTHLY OIL PRODUCTION ACCORDING TO OPEC, DECEMBER 2001-DECEMBER 2012
3500
3000
THOUSANDS BARRELS DAILY
2500
2000
1500
1000
500
0
3800
3600
3400
3200
3000
2800
2600
2400
2200
2000
1800
1600
1400
1200
1000
800
600
400
200
0
300
250
200
150
100
50
0
1980
1982
1984
1986
1988
1990
1992
1994
1996
JAN-01
1998
JUL-01
PRODUCTION AND CRUDE OIL RESERVES IN VENEZUELA, 1980-2012
2000
JAN-02
2002
JUL-02
Source: OPEC´s Monthly Oil Market
Report, April 2013
Note: This does not include production
equivalent to liquid condensates and
natural gas liquids.
2004
2006
JAN-03
2008
2010
2012
JUL-03
JAN-04
JUL-04
JAN-05
JUL-05
JAN-06
JUL-06
JAN-07
JUL-07
JAN-08
JUL-08
JAN-09
JUL09
JAN-10
JUL-10
JAN-11
JUL-11
JAN-12
JUL-12
JAN-13
OIL PRODUCTION
PRODUCTION (THOUSANDS BARRELS DAILY)
RESERVES (BILLION OF BARRELLS)
Source: BP Statistical Review
of World Energy 2013.
Note: Oil production includes crudes,
shale oil, oil sands and natural gas liquids;
excluding liquid fuels and energy sources
like biomass or coal derivatives.
RESERVES BILLIONS OF BARRELLS
PRODUCTION THOUSANDS BD
17