IPA: /ˈɔɪlˌfiːld/
KK: /ɔɪlfiːld/
A large area of land where oil is extracted from the ground.
The company invested heavily in the new oilfield to increase its production.
Oilfield → It is formed from "oil" (from Old English *æle*, meaning a fatty liquid) and "field" (from Old English *feld*, meaning an open land or area). The word "oilfield" refers to an area of land where oil is extracted or found.
Think of 'oil' as a fatty liquid found in nature and 'field' as an open area — together, they describe a place where oil is found.