Venezuela expects nearly $76 billion in oil investment over five years, acting president says
Acting President Delcy Rodriguez said the plan includes 250 drilling rigs and 61 agreements, as output in western Zulia has rebounded.
- On Saturday, acting President Delcy Rodriguez announced Venezuela expects nearly $76 billion in oil investment over five years, including a bilateral U.S. accord to drill 250 rigs across 17 oil fields.
- Since the January ouster of President Nicolas Maduro, Venezuela has reopened its energy sector to foreign investment with backing from the administration of U.S. President Donald Trump.
- The bilateral agreement covers 17 oil fields and forms part of a broader package of 61 agreements signed by the parties, Rodriguez said on national television.
- Zulia state's oil production rose from 70,000 barrels per day to 370,000, Rodriguez reported, with output expected to reach 400,000 barrels per day by year-end.
- "Major investments are coming," Rodriguez said, describing the deal as a "win-win partnership" to help Venezuela recover from years of underinvestment, operational problems at PDVSA, and energy sanctions.
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The planned investments will contribute to the creation of some 324,000 jobs in the coming years and "will allow the investor, but also the country, to profit," said the president in charge of Venezuela.
Seit Januar öffnet Venezuela seinen Energiesektor wieder für ausländische Investitionen. US-Präsident Donald Trump unterstützt das. In den kommenden fünf
Since January, Venezuela has been reopening its energy sector for foreign investment. US President Donald Trump is supporting this. Over the next five years, the country expects to invest almost $76 billion.
Venezuela signs 61 oil agreements, expects $76 billion in investments over five years
Venezuela is set to draw approximately $76 billion in foreign investment over the next five years to revitalize its oil sector. The recent agreements with the United States encompass 17 oilfields and plan for the deployment of 250 drilling rigs. Particularly in Zulia state, oil production has surged and is anticipated to keep growing, despite the ongoing hurdles of sanctions and underinvestment.
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