Oil areas in South America, Central America and the Antilles

This article details the oil-bearing Régions in South America, Central America and the Antilles

Venezuela

Venezuela produces a great quantity of oil, especially of the crudes heavy, ready to make Bitume, such as Bachaquero, Tia Juana, Boscan and Lagunillas. One can obtain until 80 % of bitumen with one of these crudes. Venezuela classifies as “heavy oil” all that is located of 10 at 25°API, which in fact a category with horse between oil conventional and nonconventional according to the definition of Colin Campbell, which places the limit at 15°API. Venezuela is the only country not Musulman member of OPEC, and, since the election of the president Hugo Chavez, probably more the fervent supporter of a severely limited production and high prices.

The complex of Bolivar Coastal , in the North-West of the country, provides the essence of the production. It is made of a whole of layers adding up more 30 Gbbls (total equipment) of heavy oil close to the Lake Maracaibo. It is a mature area, exploited since 1917. According to ASPO of the 24 layers of more than 500 Mbbls of Venezuela, 4 were discovered in the years 1980, but all the others before 1960 (much is elements of Bolivar Coastal ). The North-East of Venezuela provides reserves of more modest Natural gas and conventional oil.

The valley of the Orénoque offers a vast layer heavy extra oil (8-10°API, heavier than water), undoubtedly the greatest continuous accumulation of Hydrocarbure S of the planet, which can be extracted only by assisted recovery (using solvents generally). As in Canada (the bituminous Sands of Alberta), part of the production is chemically transformed into Syncrude, mimant as well as possible the properties of a conventional crude oil. The production is at the neighborhoods of 550 kbbls, and is accompanied by coproduits (coke, Soufre).

In addition, of the bitumen is also sold in the form of emulsion in the water (orimulsion, registered trademark), which offers a cheap industrial fuel, but relatively pollutant whose properties and uses make a kind of “liquid coal”. The production is of approximately 5 Mt/an, but will be gradually stopped, the national oil company (PDVSA) preferring to use the extra-heavy crude for the production of Syncrude, much more lucrative. The government currently tries to qualify this bitumen commes reserve (see Réserves of oil of Venezuela).

The production in 2005 is of 3,1 Mbbls/j, the objective in the future is to pass to 5 Mbbls/j. However, since 1998, the total production of the country declined of 3,5 with 3 Mbbls/j, while at the same time the syncrude of Orénoque passed from 0 to 500 kbbls/j, the crude production conventional thus decreased by 40 %. This decline makes extremely suspect the figures of reserves, which, since 1997, are stable with 78 Gbbls - if this figure is true, ratio R/P exceeds 80 years and the decline of production is difficult to explain. It is probable that extra-heavy oil, or currently not exploitable oil, is included. The production targets seem about impossible to reach, the more so as the taxes applied to the exploitation of oil one raised very strongly, making hazardous, for an alien company, the return on new investments in Venezuela, even with a barrel with 75 dollars.

Brazil

Brazil is essentially installed on old crystalline shields and not very deep sedimentary basins, the oil resources with ground are thus tiny. In the years 1950, the Amazonian basin was explored, but the results were very modest. The country turned later to the coastal basins, supplied with rocks syn-rift of the Crétacé, corresponding to the opening of the Atlantique. Here, approximately 5 Gbbls were found, in several areas close to the dimensions, which are declining today. The rocks sources are good quality, but these areas miss adequate traps.

The third cycle of exploration was the good. Brazil, via its national company Petrobras, was the first country in the world to explore and exploit resources deepwater (> 500 meters of water), which constitutes a remarkable technical prowess. The three basins deep offshore oil rigs, Campos, Santos and Espirito santo, offer important reserves, even if it is acted as majority of heavy and viscous oil. It is about a later phase of very the Rift, but capped Turbidité S tertiares which offer good tanks. It is still difficult to estimate producible ultimate these basins. There are also great gas reserves in these areas, but it will still take years before seeing their commercial exploitation.

The production increases quickly and should make the country self-sufficing from here 2006. However, almost all the Brazilian layers produce very heavy oil, and the Brazilian refineries must mix it with light crude of importation. A layer of several Gbep, Tupi (layer) was discovered at the end of 2007, it will make it possible the Brazilian production to still believe during next the decades, so much so that the country could plan (according to one of its ambassadors) to join OPEC.

Brazil is the largest producer of the southern hemisphere (this one has only some 5 % of world oil).

Argentinian

The Argentine is an average producer, who reached his peak with 920 kbbls/j in 1997 to fall to 763 kbbls/j in 2005 (including 660 of crude). Two principal oil basins (approximately 45 % of the production each one) are Neuquen, in the mid-west of the country, a platform which has Jurassic rocks sources, and San Jorge, on the coast, whose sources are lake deposits of the Crétacé. These two basins, characterized by a great number of small layers, are mature. The country was a significant oil exporter a long time, but exports fell to approximately 50 kbbls/j in 2006 and the balance should be reversed soon.

The basin of Southern, with the southern point, of which the Chile holds a small portion, and the Argentinian fraction of that of Santa Cruz-Tarija have quite less crude oil reserves, but are more important for the Natural gas. Argentina is besides the first gas producer of Latin America (640 kbep/j), but its reserves of exhausts quickly (they decreased by 18.9% between 2005 and 2006). The peak of production of gas seems to be crossed in 2004, and the country imports Bolivian gas more and more. The principal hope to increase the gas and crude oil reserves is in exploration Offshore. Below, the future production is evaluated with 5 Gbbls, a perhaps generous figure (more of the double of the proven reserves brought back).

Colombia

This country was briefly perceived like a oil Eldorado. Exploration started tardily (years 1960) because of the difficult access terms. There be massive discoveries in the years 1980, in particular the Cupiagua/Cusiana complex in the North-East of the country, allowing during the following decade a flight of the production, which reached a peak with 830 kb/j in 1999. Moreover, it is about oil of high-quality, contrary to that of the majority of the countries of Latin America.

However, the situation quickly changed. The production of Cupiagua/Cusiana forever achieved the laid down goal of 500 kb/j, it reached with peak with 434 in 1999 and is nothing any more but 130 kb/j today. The ultimate reserves of these layers had been strongly overestimated. today, BP hopes to develop their associated gas in the form of Syncrude (84 kb/j as from 2011).

Moreover, the new discoveries in the remainder of the country were done disappointing, incompetents to replace the production decrease of the large layers. The production of the country fell to 526 kb/j, and the proven reserves with 1.5 Gbbls. There could however remain a certain potential of exploration in the currently closed zones, because undergoing guerillas ceaseless. Some gas reserves are exploited offshore, with the northern point of the country.

Other countries

The Ecuador is an important producer (530 crude kbbls/j) having vast reserves (close to 5 Gbbls), even if it is almost only about heavy oil (20-25 °API) and charged out of sulfur. It left OPEC in 1992 but announced its return in the organization at the end of 2006. To the south-west of the country, the basin of Progreso, resulting from the delta of the ancestor of the Amazon, offered some oil reservoirs, now exhausted, at the beginning of the 20th century. Its offshore oil rig prolongation in the gulf of Guayaquil provides minor amounts of gas. To the east of the country, the basin of Putumayo provides almost all the production, limited by the capacity of the two pipelines crossing the Andes. The exploration of the country seems about finished and the rate of déplétion exceeds 4%/an now.

Trinidad and Tobago is an old producer: the industrial production of oil started there since 1907. Approximately 3,2 Gbbls were extracted and it probably remains between 1 and 2 Gbbls. The production is declining for a long time (oil Pic in 1978, but recently rebounded somewhat thanks to new investments). It is close to 200 kbbls/j of liquids, of which two thirds of crude and a third of natural gas liquids. Gas reserves are much more important: 1,6 Gbep were produced and there remains at least triple. This resource makes it possible this small country of the Antilles to count among the largest exporters of GNL and petrochemical products (Ammoniac, Méthanol and their derivatives) of the world. The production of gas is worth 400 kbep/j (25 G.m ³ /an - figure 2003), approximately 50 % are exported in the form of GNL, almost entirely towards the United States.

The Peru has an old deltaic basin, corresponding to the mouth of the ancestor of the the Amazon, before the lifting of the the Andes at the end of the tertiary . This basin allowed in 1869 the discovery of the complex of Brea-Parinas, the oldest giant layer of the world. Peru is largely post- oil Pic: it produces nothing any more but 75 crude kbbls/j against 200 in 1983. However, a new layer of gas, Camisea (the Andes) will allow the export of GNL as from 2008, and its liquids are already exploirés. New heavy crude oil reserves were identified in the basin of Maranon in the north of the country, and the first discovered offshore oil rig was recorded in 2005. The oil sector of the country thus knows an undeniable renewal.

The Bolivia emerged these last years as a significant gas producer (approximately 14 G.m ³ per annum, against 2.3 in 1999), thanks to several large layers in the buttresses of the Andes. The current reserves (proven + probable) are from approximately 50 Tcf (either 1400 G.m3, or 8,5 Gbep), and there remains a significant potential of new reserves. The country exports more and more gas, Brazil being the first customer. The oil resources are in comparison modest. The country is nationalizing the whole of the production and even refining, which slows down the overseas investments.

The Chile is very low in oil, having only some small layers, almost exhausted, at the southern point. In Central America, the Guatemala has a little oil, with 260 Mbbls of reserves producing 25 kbbls/j, and marginal production has just started with the Belize . Cuba is a small oil producer (50 kbbls/j) but in progression, and hopes to have a certain potential in Offshore. The Suriname has also small proven reserves (100 Mbbls). The other countries of the continent do not have known oil reserves nor of gas, or in unimportant quantities, but several territories are the subject of efforts of exploration, including the French Guiana.

Table of synthesis

Notes :

the figure of consumption placed in line of oil actually corresponds to the consumption of refined products, resulting from transformation of the crude, the condensates, the natural gas liquids, and the bitumens.

Notes :

(1): Only, excluded gross condensates, GNL, oils extra-doors, the bitumens (Venezuela) and bituminous schists of the south of Brazil.
(2): Gross only, it is advisable to add 600 kbbls/j of Syncrude. The blend “Tia Juana Pesado”, “Boscan” and “Bachaquero” on the other hand are included. If one applies the definition of Campbell Hake, they should be placed in nonconventional oil - they are located under the bar of the API 15°.
the figures are those of 2005. In certain case, the division between conventional crude and condensates are estimated, or quantifies it condensates is older.

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Remarkable layers

Venezuela: Bolivar Coastal, extra-heavy Oils of Orénoque
Brazil: Marlim, Roncador, Tupi (layer)

Bilbiography

Newsletters of ASPO
Country Analysis Brief of the EIA

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