Abstract: Pedernales Oilfield, Eastern Venezuela: The First 100 Years

Jon Gluyas, John Oliver, Wayne Wilson, Miguel Tineo

Petroleum seeps and surface tar mats attracted oil explorers to Pedernales in eastern Venezuela 100 years ago. Commercial production from the Pedernales Field was established by Creole in 1933. In three production periods, broken by WWII and the end of the Creole-Texaco refining contract, Creole and Lagoven produced about 60 MMSTB from about 60 wells in about 60 years. Peak production was in the late 1950s, when the field delivered 12,000 BOPD.

Production was stopped in 1986. In March 1993, BP Venezuela acquired the license to reactivate Pedernales on behalf of Lagoven, and BP's first well in the field was drilled in August 1994. A second was completed in early 1995. The production from each well was sufficiently encouraging for commerciality to be declared in March 1995.

Phase 1 of the field reactivation demanded a production rate of 11,500 BOPD. As of now (September, 1995) six wells, including one gas disposal well, have been completed. Wells have been placed using a combination of old well data and mapping based on a close spaced 2D seismic survey shot in early 1994. Results from these first few wells indicate that the required production rate will be achieved despite severely depleted reservoir pressures.

This paper tells the story of reactivation and re-evaluation of one of eastern Venezuela's oldest oilfields.

AAPG Search and Discovery Article #90951©1996 AAPG International Conference and Exhibition, Caracas, Venezuela