Despite the fact that majority of the Basin is located in Venezuela, which we continue to believe is likely to implode, the portion of the Basin located outside of Venezuela's borders lifts the our outlook to Positive.
April 14, 2021
Americas - South
Onshore & Offshore
The EVB is a foreland basin south of a fold belt. The progressive west-to-east collision of the Caribbean plate with the passive margin of northern South America in the Paleogene and Neogene formed a thrust belt and foreland basin that together compose the East Venezuela Basin Province.
The geology of the Basin is well understood and has been actively explored. However, there remains significant opportunities, especially in Trinidad & Tobago, to make further progress.
Source: ESRI, BGS, USGS & OGA data
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