Dacion Field Rehabilitation

IOR-08 DACION FIELD REHABILITATION Abstract 1 The Dacion field which is located in the eastern Venezuelan basin came on production about 50 years ago. In the early years of development more than 300 wells were drilled and production reached a peak of 45000 bbl/D of oil at about 1958. After that the drilling slowed down and the field was operated on a rate maintenance basis. By 1997 the rate had fallen to approximately 11500 bbl/D. In 1998 Lasmo Venezuela took over operations of the Dacion field after the third Venezuelan licensing round lead by PDVSA and has in two years