New oil equipment in Venezuela, the first in 15 years

In Venezuela, the private company North American Blue Energy Partners (Nabep) has received new oil equipment to operate in the country, including two drilling rigs and eleven new well maintenance and rehabilitation platforms. This is the first time, in over 15 years, that systems of this type have been introduced in the South American nation.

The company has announced the arrival of additional machinery in the coming weeks, to support activities at Lake Maracaibo and the Orinoco Oil Belt.

“Nabep is making steady progress in increasing oil production. Every plant that arrives in Venezuela brings us closer to our operational goals and the revitalization of the country's economy,” said Alejandro Betancourt, the CEO of the company tasked with managing the deal under which Washington will gain control of 20% of the country's huge crude reserves.

Since the capture of Nicolas Maduro by the US, production has increased, reaching around 1.2 million barrels per day. The state-owned PDVSA has announced the goal of reaching 1.5 million barrels per day in 2027.