Carcavelos is the smallest wine appellation in Portugal, one of the country's great Vinhos Generosos and perhaps its rarest wine. Lying west of Lisbon and stretching along the Targus estuary towards the Atlantic, its vineyards were nearly consumed by suburban development during the late 20th century. Today, only 25 protected hectares remain. Carcavelos was considered one of Portugal's most famous fortified wines — on par with Porto, Madeira and Moscatel de Setúball.

Villa Oeiras is the sole remaining producer of Carcavelos, a partnership between Portugal's Ministry of Agriculture and municipality of Oeiras in 1983. Located in the former stables of the Marquis do Pombal at the Casal do Manteiga, its 12.5-hectares of vines are planted on calcareous soils just 200 meters from the Tagus estuary, which comprise nearly half of the Carcavelos DOC. The vines are derived from original Pombal cuttings, material that traces its roots back more than three centuries.

Arinto, Gallego Dourado and Ratinho form the backbone of its benchmark 15-year-old blend. The wines are aged in a combination of Nacional (Portuguese) and French oak, initially at the Casal do Manteiga, and are subsequetntly transferred to the palatial cellars of the M. do Pombal for extended elevage. Under the direction of winemakers Tiago Correira, Pedro Sá and Alexandre Lisboa, Villa Oeiras is both sentinel and beacon of the Carcavelos appellation.