Dacion Oil Field

Summary Information

• Operator: PDVSA
• Country: Venezuela
• Location:
• Production start:
• Partners:
• Type: Oil
• Estimated Reserves:
• Production Volume:

Description

• Dacion is a medium-heavy giant oil field that was discovered around 1945 by Gulf Oil in the Eastern basin.
• Production peaked around 44,000 b/d in the 1950s with water cuts as high as 30 % in a short time. As the water cut increased, the rate declined to 20,000 b/d in the 1960s.

Contractors

• -

History

• 1945 - Dacion Oil Field was discovered by Gulf Oil
• 1976 - The field was nationalised
• 1997 - The field was awarded to Lasmo
• 2003 - ENI acquired Lasmo, gaining ownership of the field
• 2006 - The Venezuelan state expropriated the field from ENI
• 2008 - A compensation package is agreed

Geology

• The reservoirs in this field are either poorly consolidated or unconsolidated sands, high porosities averaging 26%, with an average thickness around 20 net feet per producing horizon. Most reservoirs have a strong natural water drive.

Links

1. Eni: developments on the situation of the Dacion field in Venezuela
2. [1]