14-11-06 Venezuela's proven oil reserves have grown by 7,600 mm barrels this year to amount to 87,621 mm barrels, Rafael Ramirez, Venezuelan Minister of Energy and Oil, announced.
Ramirez pointed out that this indicator would be entered in international registers.

The increment in oil reserves was confirmed by the certification of one of new oil deposits by an authoritative company, the Ryder Scout.
The Minister also said the Magna Reserva large-scale project, which is being currently implemented, yields still more impressive results, judging by a quantitative estimate and certification of vast deposits of hydrocarbon fuel in the Orinoco River catchment area.

Heavy oil reserves at only one of 27 blocks of the oilfield are estimated by Ryder Scout experts at 45,500 mm barrels. This made it possible to augment the preliminary data on the extractable reserves of heavy and super-heavy oil in the Orinoco River area up to 260,000 mm barrels, Ramirez said.
Following a confirmation of the estimates, this oil-bearing belt would be reckoned the world's largest one while Venezuela may become a country affording the world's largest proven reserves of oil amounting to more than 300,000 mm barrels.