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The AAPG/Datapages Combined Publications Database
AAPG Special Volumes
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Only 44 of the nearly 300 oil fields discovered in Venezuela to the end of 1965 can be classified as giant, that is, having resources (FOOTNOTE 3) of at least 100 million bbl of oil. The average time lag for the recognition of an oil field as a giant is 8 years and 2 months. Giant fields have been discovered in three of the sedimentary basins of the country. The estimated resources of all giant fields in Venezuela are 27,730 109 bbl. The average far the country is 630 million bbl per giant. Even if the resources of the Bolivar Coastal field were only 500 166 bbl, the average resources would be 267 million bbl of oil per iant field. If the data on the giant Venezuelan fields are combined with estimates of the oil resources of the country, estimated ultimate number of giants is 78. Ten giant fields had been discovered but not recognized by the end of 1965, leaving 24 giants undiscovered. It is estimated that 40 percent of the oil resources of Venezuela are in the giant fields.
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