East Venezuela

Commentary

That the outlook for Venezuela is improving, also improves the wider outlook for the basin. We remain positive on the prospects for the basin overall.

Updated

February 1, 2024

Location

Description

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.

Summary

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.