Browsing Tag
North American Blue Energy Partners
2 posts
NABEP expands Maracaibo and Orinoco operations after first U.S. oil shipment as production growth accelerates
North American Blue Energy Partners expects its Venezuelan rig fleet to reach 41 units during November after reporting production of 223,509 barrels of oil equivalent per day. The expansion follows a U.S.-backed agreement covering 17 oilfields, but equipment commissioning, field rehabilitation and financing remain central to the company's ambition to exceed one million barrels of daily oil production.
NABEP’s reserve base is enormous, but its $100bn Venezuela plan still has to find the capital
North American Blue Energy Partners is set to control 17 Venezuelan oilfields containing about 65 billion barrels while targeting more than 1 million barrels a day of production. The unprecedented structure gives the U.S. government a 35% equity stake and preferential access to output, but the real commercial test is whether NABEP can finance and execute a proposed $100 billion infrastructure programme across fields that have suffered years of underinvestment.