oil field

Definition of oil field

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

Examples of oil field in a Sentence

Recent Examples on the Web Equinor, which changed its name from Statoil in 2018 to drop the fossil-fuel reference, sees output growing 7% this year thanks mainly to the giant Johan Sverdrup oil field, a rare mega-project in Norway’s aging North Sea. — Mikael Holter, Bloomberg.com, "Equinor Boosts Climate Targets as Oil Output Hits Record," 6 Feb. 2020 The closures came in response to a militia led by military commander Khalifa Haftar shutting down an export pipeline connecting to the two oil fields, which can produce 400,000 barrels per day, according to the Wall Street Journal. — Josh Siegel, Washington Examiner, "Daily on Energy: IEA calls foul on Big Oil climate change promises," 20 Jan. 2020 Dozens of men from tribal groups loyal to Hifter continued on Monday to camp out in two key southern oil fields, including al-Sharara, Libya’s largest. — Washington Post, "Libyan oil fields remain shut, testing peace summit," 20 Jan. 2020 The operation is powered by energy brought from the shore, generated mainly from hydroelectric power -- a rarity for offshore oil fields, most of which are powered by diesel generators. — Ivana Kottasová, CNN, "Norway says its new giant oil field is actually good for the environment. Critics call it climate hypocrisy," 19 Jan. 2020 The United States recently deployed 3,000 air defense and other troops to help protect the kingdom after a drone and missile attack on oil fields, which Washington blamed on Iran. — Arkansas Online, "Defense chief studying troop cuts in West Africa," 25 Dec. 2019 The recent drone attack on its oil field and a refinery in September, which knocked out half the Kingdom’s crude supply, is clearly fresh in investors’ minds. — Alan Murray, Fortune, "In 2020, Investors Have Lost Their Bearings," 9 Jan. 2020 Washington alleges that Iran carried out the September attack on the world's largest oil processor in the kingdom and an oil field, which caused oil prices to spike by the biggest percentage since the 1991 Gulf War. — CBS News, "Iran, Russia and China team up for military drills as America boosts troops in Saudi Arabia," 25 Dec. 2019 Aramco marries very low costs — largely attributable to its matchless oil fields — to far higher output than any other oil company, resulting in a cash-spewing machine. — BostonGlobe.com, "Shares in the company closed at 38 riyals, or about $10.13, giving the company a valuation of $2.03 trillion on the Saudi exchange.," 17 Dec. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'oil field.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Last Updated

18 Feb 2020

Cite this Entry

“Oil field.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/oil%20field. Accessed 28 Feb. 2020.

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More Definitions for oil field

oil field

noun

Financial Definition of 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.

Source: Investing Answers

oil field

noun