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December 8, 2021updated 27 Apr 2022 12:48pm

Bare Heavy Oil Field, Venezuela

By Carmen

Bare is a producing heavy oil field located onshore Venezuela and is operated by Petroleos de Venezuela.

Field participation details

The field is owned by Petroleos de Venezuela.


Production from Bare

The Bare heavy oil field recovered 94.25% of its total recoverable reserves, with peak production in 2011. The peak production was approximately 102.93 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2041. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 21.2 Mmboe, comprised of 21.2 Mmbbl of crude oil & condensate. Bare heavy oil field reserves accounts 0.05% of total remaining reserves of producing heavy oil fields globally.


About Petroleos de Venezuela

Petroleos de Venezuela SA (PDVSA) is a state-owned oil and gas company. It plans, coordinates, supervises, and controls the activities in the entire oil and gas value chain. The company explores for and develops oil and other hydrocarbons; refines, trades, and supplies products in domestic and overseas markets. PDVSA administers refineries, marketing and transportation of crude oil and refined products in various countries. The company markets refined petroleum products under PDV brand in Venezuela and CITGO brand across Eastern and Mid-western regions of the US. PDVSA is headquartered in Caracas, Venezuela.

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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