• Short Summary

    Venezuela, already one of the world's major oil-producing nations form under-water fields in the off-shore Lake of Maracaibo, is forging ahead with the development of inland resources along the Orinoco tar belt.

  • Description

    Venezuela, already one of the world's major oil-producing nations form under-water fields in the off-shore Lake of Maracaibo, is forging ahead with the development of inland resources along the Orinoco tar belt.

    SYNOPSIS: Work is still very much in the experimental stages --but government estimates indicate that in three years' time the area will be producing some 125 thousand barrels per day.

    At present there are there nationalised companies involved in the work -- taken over from former private concessions. With minor projects already well-advanced, major work is expected to start mid-1977 -- and full capacity production is scheduled for about 1990.

    The Orinoco Tar Belt coasts the river of the same name which divides the country roughly in half form East to West. The basic plan for oil exploitation in this area is not one of export potential--Venezuela already earns some one thousand million dollars per annum from its off-shore oil--but is aimed at making the southern part of the country self- sufficient. Once the initial 125-thousand daily barrels are achieved -- the Government will decide how and where the oil and its derivatives can best be deployed. The problem is not how much oil there might be, or whether it can be produced -- but how to use it once it starts coming in.

  • Tags

  • Data

    Film ID:
    VLVA5G9DS10QM82AR06OPF78M60IG
    Media URN:
    VLVA5G9DS10QM82AR06OPF78M60IG
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    19/11/1976
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:16:00
    Time in/Out:
    /
    Canister:
    N/A

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