Government and PDVSA Back Summit to Drive Investment Toward 3 Million bpd Output Target

CARACAS, Venezuela, June 3, 2026/APO Group/ --

Venezuela will host its largest-ever international energy investment summit on 26–29 October 2026 in Caracas, bringing together U.S., Venezuelan and international oil companies, investors, financiers and technical service providers to advance near-term investment opportunities across the country’s reopening energy sector.

Officially supported by the Ministry of Hydrocarbons and national oil company PDVSA, Venezuela Energy Week 2026 is designed to accelerate capital deployment across one of the world’s largest hydrocarbon resource bases.

Venezuela holds over 300 billion barrels of proven oil reserves – the largest globally – alongside more than 195 trillion cubic feet of natural gas. With current production at approximately 1–1.1 million barrels per day, the government has set a strategic target to restore output toward 3 million barrels per day through phased investment, field rehabilitation and expanded private sector participation.

Recent 2026 hydrocarbons reforms are materially reshaping the commercial framework. These include reduced fiscal burdens, expanded production-sharing mechanisms, strengthened arbitration protections and increased operational control for foreign partners. For international investors, these changes signal a shift toward more internationally aligned contract structures and improved capital recovery visibility.

The investment case is underpinned by scale, speed-to-market potential and significant brownfield upside. Venezuela’s producing basins – particularly the Orinoco Oil Belt, Maracaibo Basin and Eastern Venezuela Basin – offer a combination of undeveloped mega-projects and mature assets primed for enhanced recovery. Priority opportunities include large-scale developments across the Orinoco Belt, including Junín, Carabobo and Ayacucho; brownfield rehabilitation in the Maracaibo Basin; reactivation of shut-in wells through new drilling programs; and heavy crude upgrading and blending infrastructure to support export growth.  

In parallel, underutilized refining capacity and constrained midstream infrastructure are opening near-term investment opportunities across rehabilitation, logistics and export systems. Refining capacity of nearly 1.3 million barrels per day is currently operating at roughly 35% utilization, creating immediate opportunities in refinery rehabilitation, midstream logistics, storage and export terminal expansion.

Gas monetization is emerging as a key growth segment, with offshore developments such as the Dragon and Cocuina-Manakin fields positioning Venezuela as a future supplier to regional and global LNG markets. Associated gas capture, processing and transport infrastructure remain underdeveloped, offering additional entry points for technical and financial partners.

Overall sector rehabilitation is estimated to require up to $100 billion in investment, with approximately $10 billion annually needed over the next decade to restore production capacity, modernize infrastructure and scale exports.

Venezuela Energy Week 2026 will feature dedicated investment tracks focused on upstream technical opportunities, commercial structuring, infrastructure integration and digital optimization, including AI-driven field management and energy systems modernization. The program will also include discussions on workforce development and local participation across the evolving oil and gas sector, supported by dedicated Youth in Energy sessions. This track will spotlight emerging talent, early-career professionals and next-generation leadership across the energy value chain, with a focus on skills development, innovation and cross-generational knowledge transfer.

With participation from leading industry bodies, the event will align technical expertise with capital deployment strategies, reinforcing its position as a gateway for U.S. and international investors evaluating market re-entry.

The program will conclude on 29 October with curated site visits to key upstream and downstream assets, offering investors direct exposure to operational conditions and project readiness across Venezuela’s core producing regions.

As global energy markets recalibrate and supply security remains a strategic priority, Venezuela’s reopening presents a high-impact, large-scale opportunity for investors navigating a complex but increasingly investable environment.

The summit is organized by Energy Capital & Power. For participation opportunities:

• General inquiries: This email address is being protected from spambots. You need JavaScript enabled to view it.
• Speaking opportunities: This email address is being protected from spambots. You need JavaScript enabled to view it.
• Sponsorship and partnerships: This email address is being protected from spambots. You need JavaScript enabled to view it.
• Delegate registration: This email address is being protected from spambots. You need JavaScript enabled to view it.

For more information, visit www.VenezuelaEnergyWeek.com.