The Maracaibo Basin in Western Venezuela is a prolific, oil-producing sedimentary basin. Venezuela (ˌvɛnəˈzweɪlə) officially the Bolivarian Republic of Venezuela (Spanish República Bolivariana de Venezuela) is a country on the The basin is bounded on the north by the Oca Fault which separates it from the Caribbean Sea. For the region see Caribbean. The Caribbean Sea (kəˈrɪbiən or /ˌkærɨˈbiːən/ is a tropical Sea in the Western Hemisphere The remaining sides of the basin are bounded by a branching in the northern Andes Mountains termed the Sierra de Perijá (to the west) and the Mérida Andes (to the south and east). The Andes form the world's longest exposed Mountain range. They lie as a continuous chain of highland along the western coast of South America. The Serranía del Perijá, Cordilla de Perijá or Sierra de Perijá is a mountain range an extension of the eastern Andean branch ( Cordillera The Cordillera de Mérida is a series of Mountain ranges or massif in northwestern Venezuela. The city of Maracaibo, Venezuela is located in the northern central part of the basin on the shore of Lake Maracaibo, which occupies the central part of basin. Maracaibo is the second-largest city in Venezuela after the national capital Caracas and is the capital of Zulia state Lake Maracaibo is a large Brackish Lake in Venezuela at. It is connected to the Gulf of Venezuela by Tablazo Strait (55km on the northern edge
Oil was discovered in producible quantities in Venezuela in 1914 at the town of Mene Grande in the east central part of the basin. The site of the first well was near a surface oil seep.
Venezuela produces a mix of conventional heavy crude and nonconventional crude derrived from bitumen. Bitumen is a mixture of organic Liquids that are highly Viscous, black sticky entirely soluble in Carbon disulfide, and composed primarily This latter source, previously too expensive to produce in quantity, now makes up an increasing large percent of Venezuela's oil exports -- 600,000 of Venezuelas's three million barrels per day in 2006. In the Maracaibo Basin, the balance of reserves is toward its conventional deposits, which make up half of the country's exports. As the country continues shifting toward bitumen production due to its increasing profitability and decreases in conventional reserves, the level of Maracaibo Basin oil production will decrease, while that of the Orinoco Belt and its massive bitumen deposits will increase. The Orinoco Belt is a territory which occupies the southern strip of the eastern Orinoco River Basin in Venezuela.
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