This information is available only to subscribers.
Start a free trial, to unlock the full potential of a subscription to BNamericas.
Already a subscriber? Please, login.

Carabobo 1

Project Stages

The development stages in the projects are displayed in the standard sequence for the industry. However, projects may be developed in a different sequence because of corporate decisions or events that push the owner to repeat stages. To access the full details of this project’s history please explore its milestones

Early Works
In Construction
Current Stage In production - under development
Project Details


Carabobo 1 is an onshore project being developed by Petrocarabobo, a joint venture that holds a 40% stake and was originally composed by Repsol (11%), Petronas (11%), ONGC Videsh Limited (11%), Indian Oil Corporation (3.5%) and Oil India Limited (3.5%), in conjunction with state oil company PDVSA (60%). Petronas has withdrawn from the project as of September 2013. ONGC Videsh Ltd along with Oil India Corp have then mulled to buy Petronas stake at the project. The areas on this license are Carabobo 1 Centro and Norte. Initial investment by Petrocarabobo JV was US$1.05bn and at the end of 2013 the field was producing 30,000b/d. The Carabobo oil block is part of the Orinoco oil belt, one of the largest hydrocarbons and crude oil reserves in the world. The Orinoco belt extends 55,314km2 and is divided into four areas: Boyacá, Junín, Ayacucho and Carabobo. The Carabobo block is split into three zones: Carabobo 1, Carabobo 2, and Carabobo 3. The region has a 257 billion barrels of proven heavy oil reserves.

Only BNamericas Subscribers Can Access This Information.
Subscribe to BNamericas to gain better insight into project development and contract opportunities in Latin America.
  • Early-stage and under-development projects throughout the region
  • Project coverage focused on biggest investments in each country and sector
  • Project milestones highlighting planned and unplanned developments
  • Sales contacts within operators and contracted companies
  • Access to experienced research staff
  • Risk analysis of cost increases, scheduling conflicts and regulatory environment
Already a subscriber? Please, login

Milestones Log and News

Related Companies

Name Sector Country Relation
Locked content
Project Owners
Locked content
Project Owners
Dear visitor, this table includes insights that is only available for subscribers

  • * Figures and dates are as per the latest publicly available information, as well as information gathered by BNamericas reporters and analysts and are subject to change.

  • * Changes to original budget estimates are shown as the total figure available and may include interest, working capital, inflation adjustments and other contingencies in addition to capital expenditure.

  • * Amounts and overall results are shown in US dollars unless otherwise stated.

  • * BNamericas does not guarantee the sequence, accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. There are no express or implied warranties. In no event shall BNamericas, its agents, directors, officers, employees, representatives, successors, and assigns be liable for any damages of any nature in connection with BNamericas content.

Key Specs

Full Name
Carabobo 1
Project Type
Conventionals, Crude oil, Exploration, Onshore, Upstream
Development Phase
In production - under development
Project Status
Project Capacity
400  b/d (barrels per day)  Crude oil

Carabobo 1 is in the Carabobo block, in the states of Anzoátegui and Monagas, by the Orinoco river and 450km from Caracas, Venezuela.

* The map coordinates provided above represent the approximate latitude and longitude, and not the exact location, of the project in question.


Locked content
Owner / operator
Locked content
Owner / operator
Locked content
Chief Vigilance Officer
Locked content
Executive Director-Chief Corporate Finance
Locked content
Investor Relations, Marke Intelligence
Locked content
Investor Relations Director
Dear visitor, this table includes insights that is only available for subscribers