Venezuela Aims to Revive Oil Production with $100 Billion Investment

Restoring Venezuela's oil production may require significant investment, estimated to be around $100 billion in long-term financing. According to Rystad Energy, this would enable the country to increase its production from approximately 1.25 million barrels per day to 2.58 million barrels per day by 2035.

The largest project announced is linked to North American Blue Energy Partners (NABEP), a private company granted 100-year concessions for 17 oil fields with proven reserves of about 65 billion barrels. NABEP aims to rapidly expand operations at Lake Maracaibo and in the Orinoco Belt, targeting production of over 1 million barrels per day.

Rystad Energy cautioned that the $100 billion represents a long-term financing need rather than confirmed near-term capital investment. Analysts favor investment programs tied to proven operators and specific assets over large-scale plans requiring substantial external capital.