Report summaryLa Ceiba is located in the southern Maracaibo basin. It was awarded as part of the 1995 exploration bidding round. It was the most sought-after block in the round and an aggressive bid (with a signature bonus of US$104 million) was made by a Mobil-led (now ExxonMobil) winning consortium. The field is estimated to hold in-place reserves of up to 1.2 billion barrels but the recovery factor is an uncertainty. La Ceiba is an important strategic field to PDVSA as it is flanked by the ...
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