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    "headline": "Venezuela Signs 25-Year Oil Deal with Colombian Firm GeoPark",
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    "prose": "The interim government of Venezuela signed a 25-year agreement with the Colombian company GeoPark to exploit a heavy crude oil field. [^1]\n\nDelcy 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]\n\nVenezuela 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]",
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