1. Geological Genesis. The stratigraphic trap of the Cretaceous and Miocene.
The origin of the hydrocarbons in the belt goes back millions of years, related to the tectonic evolution of North South America:
the rock Marine organic matter accumulated during the Cretaceous in the Quercoal Formation (northern Venezuela) was cooked under extreme heat and pressure, turning into light and medium crude oil.
Mass migration to the south. Due to the compression of the Caribbean plate into the South American plate, the coastal mountain range and the interior mountain range gradually rose. This tectonic thrust forced the fluids to migrate hundreds of kilometers south, seeking pressure relief towards the eastern Venezuela basin.
Trapping and breaking down bacteria. The crude oil is trapped in high porosity sandstones from the Miocene (Ministry Formation). When found in shallow reservoirs (between 400 and 1,200 meters deep) in contact with underground meteoric water rich in oxygen, aerobic and anaerobic bacteria biologically produced the oil, consuming the light paraffinic chains and leaving a huge concentration of asphaltenes, resins, such as nickel and heavy metals.
2. Properties of crude oil. Heavy, extra heavy and bitumen.
Unlike light crude oil from Lake Marcaibo or the Middle East, FPO oil has a very high density.
API Gravity.
Less than 10° API (extra heavy) and between 10° and 21° API (heavy).
At room temperature it has a viscosity similar to that of asphalt or thick molasses.
Sulfur content.
High (typically more than 3% - 4% by weight) requires refineries with deep desulfurization units.
Volume of proven reserves. More than 300,000 million net barrels to recover. It constitutes the largest proven reservoir of liquid energy.