Definition of oil field
:a region rich in petroleum deposits;
especially
:one that has been brought into production
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oil field
noun
Updated on: 13 Oct 2017
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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.
Source: Investing Answers
OIL FIELD Defined for English Language Learners
oil field
noun
Definition of oil field for English Language Learners
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: an area where there is a lot of oil and where special equipment has been set up to remove it from the ground
Learn More about oil field
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See words that rhyme with oil field Britannica.com: Encyclopedia article about oil field
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