Oil and Gas Developments in South America, Central America, Caribbean Area, and Mexico in 1986

Abstract

Exploration activity in South America, Central America, the Caribbean area, and Mexico in 1986 was considerably reduced compared to 1985. Brazil, Colombia, Ecuador, Guatemala, and Venezuela had increased oil production, with Colombia showing a dramatic 71% increase attributed mainly to bringing on-stream the pipeline connecting Occidental-Shell-Ecopetrol's Cano Limon complex to the port of Covenas. Significant discoveries were reported from Argentina in the Olmedo, Oran, and San Jorge basins; Brazil in the offshore Campos and Amazon basins; Colombia in the Llanos basin; Ecuador in the Oriente basin; Mexico in the Bay of Campeche; Peru in the Ucayali basin; and Venezuela in the Eastern Venezuela basin. Eastern Venezuela's Furrial discovery is reported to have recoverable r serves of more than 1 million bbl of oil, and Shell's Ucayali basin discovery is reported to hold more than 7 tcf of gas.