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December 2, 2021updated 27 Apr 2022 12:18pm

Ayacucho (Petropiar) Heavy Oil Field, Venezuela

By Carmen

Ayacucho (Petropiar) is a producing heavy oil field located onshore Venezuela and is operated by Petropiar. The field is located in block Ayacucho Area (Petropiar, S.A.).

Field participation details

The field is owned by Chevron and Petroleos de Venezuela.


Production from Ayacucho (Petropiar)

The Ayacucho (Petropiar) heavy oil field recovered 72.63% of its total recoverable reserves, with peak production in 2012. The peak production was approximately 166.75 thousand bpd of crude oil and condensate and 47 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2042. The field currently accounts for approximately 12% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 294.31 Mmboe, comprised of 285.09 Mmbbl of crude oil & condensate and 55.34 bcf of natural gas reserves. Ayacucho (Petropiar) heavy oil field reserves accounts 0.67% of total remaining reserves of producing heavy oil fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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