Venezuela Signs 25-Year Oil Deal with Colombian Firm GeoPark

Interim Venezuelan government signs 25-year oil exploration agreement with Colombian company GeoPark.

TruthFoundry News Desk

Stands on 8 placed sources from 2 publishers.

As of 2026-09-04 23:57 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.

The interim government of Venezuela signed a 25-year agreement with the Colombian company GeoPark to exploit a heavy crude oil field. ^[1] Delcy Rodríguez, the interim president of Venezuela, met with Jaime Gilinski, the president of the Colombian Group Gilinski and majority shareholder of GeoPark, to discuss oil investment opportunities. ^[2]^[4] Jaime Gilinski asserted that the Group Gilinski will provide the necessary capital to develop the Bare field and aims to increase the recovery factor of the oil reserves. ^[3]^[8] The agreement grants GeoPark management of the Bare field, located in the Orinoco Oil Belt in the state of Anzoátegui, which contains approximately 1,100 existing wells. ^[5] Venezuela increased its crude oil production by nearly 30% since January, following the ouster of Nicolás Maduro, but output remains far below the 3 million barrels per day produced in the late 1990s. ^[6] Chevron announced plans to invest US$7.000 billion over the next five years to more than double its crude oil production in Venezuela. ^[7]

Proof8 sources · 2 publishers

What this stands on

The interim government of Venezuela signed a 25-year agreement with the Colombian company GeoPark to exploit a heavy crude oil field. · Excélsior
Delcy Rodríguez, the interim president of Venezuela, met with Jaime Gilinski, the president of the Colombian Group Gilinski and majority shareholder of GeoPark, to discuss oil investment opportunities. · El Colombiano
Jaime Gilinski stated that the Group Gilinski has reached an agreement with Pdvsa to develop the Bare oil field in the Orinoco Belt for a period of 25 years. · El Colombiano
Jovanny Martínez, executive vice president of the state oil company Pdvsa, signed the new agreement with Jaime Gilinski, president of the Gilinski group and majority shareholder of GeoPark. · Excélsior
The agreement grants GeoPark management of the Bare field, located in the Orinoco Oil Belt in the state of Anzoátegui, which contains approximately 1,100 existing wells. · Excélsior
Venezuela increased its crude oil production by nearly 30% since January, following the ouster of Nicolás Maduro, but output remains far below the 3 million barrels per day produced in the late 1990s. · Excélsior
Chevron announced plans to invest US$7.000 billion over the next five years to more than double its crude oil production in Venezuela. · El Colombiano
Jaime Gilinski asserted that the Group Gilinski will provide the necessary capital to develop the Bare field and aims to increase the recovery factor of the oil reserves. · El Colombiano

We could not place any of them by their address. None is an official body: that part stands on reporting, not on the underlying document or transcript.

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