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Updated Saturday, March 20, 2010 3:13 pm TWN, AFP

Venezuela increases proven oil reserves to 211.17 billion barrels

CARACAS -- Venezuela announced Thursday that its proven reserves rose to 211.17 billion barrels of oil at the end of 2009, a 39.9 billion barrel increase, or 23 percent. The new reserves came mainly from the Orinoco Heavy Oil Belt, a southeastern area where Venezuela has intensified its investments in exploration and development, and only a small part from traditional oil fields.

In March 2009, the country's proven reserves stood at 172.32 billion barrels.

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