Okay kiddo, Eugene Island Block 330 is a big area in the ocean where people have found a lot of oil. It's called an "oil field". Think of it like a big treasure chest that has a lot of really valuable stuff inside it. But instead of gold and jewels, it's filled with oil.
People use a special kind of boat called an oil rig to drill holes into the ground under the ocean and get the oil out. It's sort of like using a really long straw to suck up a milkshake from the bottom of a cup.
The people who found the Eugene Island Block 330 oil field discovered it back in the 1960s, and they've been getting oil out of it ever since. They keep searching for new parts that might have more oil, so they can get even more of it!
The oil from Eugene Island Block 330 is really important because it can be used to make all sorts of things, like gasoline for cars and trucks, heating oil for homes, and even the plastic that makes toys and gadgets. But it's also important to be careful with how we get the oil out and make sure we don't hurt the environment, so people who work on oil rigs need to be very careful and follow a lot of rules.