Venezuela’s upstream oil sector is attracting its broadest pool of international operators and capital in decades, with established majors expanding their footprints and new operators entering under revised contractual frameworks. If capital deployment, rig availability and oilfield services scale in line with requirements, Rystad Energy models Venezuelan crude production reaching around 1.6 million barrels per day (bpd) by 2028 and 1.8 million bpd by 2030. The roster of companies now actively looking to expand or operate in Venezuela is…

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