Your diving expedition in the gulf of Maracaibo has gone wrong. Your friend is trapped in a cage with, his oxygen reserve is low, and you're under attack by sharks, other divers and bombarded with depth charges. You must find the key to the cage before your friend runs out of oxygen.
Maracaibo is a side-view arcade-exploration game. The player must explore screen after screen of sea bed in search of items like oxygen bottles (which can be brought back to the trapped diver to increase his oxygen level), a knife (needed to fight enemy divers and sharks) and the key to the cage. There are several hazards to dodge, like depth charges and falling rocks. The game interface includes a display of the oxygen level of the prisoner and a radar indicating nearby foes.