GeoPark Expands into Venezuelan Oil Sector with Orinoco Belt Acquisition

GeoPark, a Colombia-based company, has expanded its operations into Venezuela by acquiring a mature asset in the Orinoco oil belt called Bare.

The acquisition marks GeoPark's entry into the Venezuelan oil sector, which is one of the most significant oil-producing regions globally. The Orinoco oil belt is known for its vast oil reserves and has been a focus of interest for several major players in the industry, including Italy's Eni and US-based Chevron.