Continental Resources to Develop Oil Field in Venezuela's Orinoco Belt
U.S. energy company says it will operate a 126,000-acre concession estimated to hold 30 billion barrels of reserves.
Continental Resources said it will develop and operate an oil patch in Venezuela's Orinoco Belt, according to a report by CNBC.
The company said the concession spans 126,000 acres and is estimated to contain 30 billion barrels of oil reserves, CNBC reported.
Continental Resources did not immediately provide additional details on the timeline for development or the terms of the arrangement, according to the report.
The Orinoco Belt in Venezuela is known for its large crude oil deposits. Further details on the project's financing, partnerships, or regulatory approvals were not disclosed in the initial report.
Sources
- Continental Resources to develop massive oil patch in Venezuela — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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