New York Paper - Oil Geology of Northern Venezuela

The occurrence of oil seepages in Venezuela has been known since the early days of Spanish occupation. It was not until 1912, however, that any serious exploration work was undertaken. In that year, the Caribbean Petroleum Co., then a subsidiary of the General Asphalt Co., employed a large staff of geologists to make a systematic survey of large areas in eastern and western Venezuela, selecting the most desirable localities out of the immense area covered by the Valladares concession. This preliminary work was completed in the fall of 1913, and in February, 1914, the company completed its first commercial well at Mene Grande. Development work has progressed slowly, for various reasons, but petroleum in quantity has been encountered in nine widely separated localities. The Mene Grande field has been put on a producing basis and approximately 4,000,000 bbl. of oil is being shipped annually. Increasing quantities of oil are now being drawn from El Mene and La Rosa. In the light of these developments, the world's need for oil reserves, and the proximity of Venezuela to the United States, American capital is being attracted more and more to Venezuela. Although considerable careful geological work has been done in Venezuela by the various oil companies now operating, most of the data is buried in the company files, and the published literature has been extremely meager. The most valuable contribution to date has been a map and report by Jahn, which, as it was printed in Spanish, is not generally available to the American oil public. Venezuela, located in the northwestern part of South America on the Caribbean Sea, lies between l° and 12° north latitude. Its principal