oil field

noun
Updated on: 13 Oct 2017

Definition of oil field

:a region rich in petroleum deposits; especially :one that has been brought into production

First Known Use of oil field

1863


Financial Definition of OIL FIELD

oil field

What It Is

An oil field is land that contains oil.

How It Works

Specifically, an oil field contains oil that is trapped by a layer of rock. Oil fields are notoriously difficult to locate and tap.

Why It Matters

There are thousands of oil fields on Earth, some of which are at the bottom of the sea. These oil fields are the source of much of the world's oil, and many companies spend millions of dollars locating and drilling in oil fields. The fuel obtained from these fields can become gasoline, plastic, jet fuel and a variety of other products.


OIL FIELD Defined for English Language Learners

oil field

noun

Definition of oil field for English Language Learners

  • : an area where there is a lot of oil and where special equipment has been set up to remove it from the ground


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