arco

Maps Information page 1 http://lanic.utexas.edu/la/venezuela/

Venezuela
ARCO has a growing presence in Venezuela where the first results from its
new interests in oil production began in 1998. 
In mid-1997, ARCO participated in Venezuela's Third Marginal Bid Round.
With its partners, ARCO was awarded four blocks, including the offshore
LL-652 oil block which is estimated to contain two to three billion barrels
of oil in place, with remaining gross recoverable reserves of 300-600 million
barrels.
In the LL-652 oil block, ARCO is partners with Chevron, Statoil and
Epic. The LL-652 block lies offshore in Lake Maracaibo. Its development
is expected to draw on ARCO's expertise in large oil field recovery processes,
including waterflood and enhanced oil recovery.
ARCO and two Venezuelan companies -- Inelectra, S.A. and Polar Uno,
S.A. -- were awarded the Kaki and Maulpa blocks, located in central Anzoategui
state. ARCO will have a 56% interest in each of these blocks; Inemaka will
be operator. Re-activation of production in these blocks began in early
1998.
The La Vela block was acquired by ARCO and Phillips, each with 50% interests.
It includes several known accumulations of oil and gas which can be developed
through shared infrastructure.

Boqueron and DZO were acquired as part of the 1998 acquisition of UTP.
Boqueron is an enhanced development and miscible gas flood project. Total
incremental reserves are expected to be 100-300 mmboe, with peak production
of 40-50 mbd. Partners are Preussag (30%), Epic (10%). ARCO has 60% working
interest.
DZO is a second bid-round property with total incremental reserves of
45-55 mmboe. Peak incremental production should be about 25 mbd. ARCO has
100% working interest in this project.

Venezuela
ARCO has a growing presence in Venezuela where the first results from its
new interests in oil production began in 1998. 
In mid-1997, ARCO participated in Venezuela's Third Marginal Bid Round.
With its partners, ARCO was awarded four blocks, including the offshore
LL-652 oil block which is estimated to contain two to three billion barrels
of oil in place, with remaining gross recoverable reserves of 300-600 million
barrels.
In the LL-652 oil block, ARCO is partners with Chevron, Statoil and
Epic. The LL-652 block lies offshore in Lake Maracaibo. Its development
is expected to draw on ARCO's expertise in large oil field recovery processes,
including waterflood and enhanced oil recovery.
ARCO and two Venezuelan companies -- Inelectra, S.A. and Polar Uno,
S.A. -- were awarded the Kaki and Maulpa blocks, located in central Anzoategui
state. ARCO will have a 56% interest in each of these blocks; Inemaka will
be operator. Re-activation of production in these blocks began in early
1998.
The La Vela block was acquired by ARCO and Phillips, each with 50% interests.
It includes several known accumulations of oil and gas which can be developed
through shared infrastructure.