By 2009, Venezuela reported 211.17 billion barrels (3.3573 × 10 10 m 3) of conventional oil reserves, the largest of any country in South America. [6] When 2015 ended, Venezuela's confirmed oil reserves were estimated to be around 300.9 billion barrels in total.

In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela 's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic.

Venezuela holds around 90% of proven extra heavy oil reserves globally, mainly located in the Orinoco Belt. The Orinoco Belt extends over a 55,000 Km2 area, to the south of the Guárico, Anzoátegui, Monagas, and Delta Amacuro states (see map). It contains around 256 billion barrels of recoverable crude, according to state oil company PDVSA.ii

The following panel contains an interactive 3d map of the Maracaibo oil and gas basin in Venezuela. It is intended to help provide geographic context for the important oil and gas producing region in Venezuela.

Venezuela Oil and Gas Fields Map. Venezuela’s major oil and gas fields that have more than 500 million barrels of recoverable oil or gas.

Map generated with MapChart. from publication: Magic and Haunting: Oil Media at Venezuela’s Lake Maracaibo | Energy humanities emanating from the Global North often presents questions of...

The Orinoco Heavy Oil Belt (Venezuela) has 460 km long and between 40 and 80 km wide, with a total area of 55,300 km2, containing the biggest extra-heavy oil reserves in the world.

Venezuela: Oil reserves, billion barrels: The latest value from 2021 is 303.81 billion barrels, an increase from 302.81 billion barrels in 2020. In comparison, the world average is 9.09 billion barrels, based on data from 187 countries. Historically, the average for Venezuela from 1980 to 2021 is 118.29 billion barrels.

Oct 2, 2024 · A detailed infographic exploring Venezuela's vast wealth of natural resources, including massive oil, natural gas and gold deposits.

Venezuela holds 299,953,000,000 barrels of proven oil reserves as of 2016, ranking 1st in the world and accounting for about 18.2% of the world's total oil reserves of 1,650,585,140,000 barrels. Venezuela has proven reserves equivalent to 1,374.2 times its annual consumption.