Colombia's GeoPark Signs 25-Year Oil Deal for Venezuela's Bare Block

Colombian oil firm GeoPark secured a 25-year contract to operate Venezuela's Bare oil block in the Orinoco Belt.

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As of 2026-09-05 00:22 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.

Colombian oil company GeoPark signed a 25-year contract in Caracas to operate the Bare oil block within Venezuela's Orinoco Belt. ^[1] The agreement allows GeoPark to develop an area currently producing approximately 11,000 barrels per day, with capacity to reach up to 95,000 barrels daily. ^[2] Venezuelan interim president Delcy Rodríguez attended the signing ceremony and expressed satisfaction that a Colombian company joined the plan to recover the oil industry and increase production. ^[3]^[5] Jaime Gilinski, director of the Gilinski group and majority shareholder of GeoPark, stated that the 25-year agreement represents a bet on working with PDVSA with transparency and future conviction. ^[4]^[6]

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Colombian oil company GeoPark signed a 25-year contract in Caracas to operate the Bare oil block within Venezuela's Orinoco Belt. · EL NACIONAL

The agreement allows GeoPark to develop an area currently producing approximately 11,000 barrels per day, with capacity to reach up to 95,000 barrels daily. · EL NACIONAL

Venezuelan interim President Delcy Rodríguez stated that the incorporation of Colombian capital is part of the country's plans for production recovery and expansion. · EL NACIONAL

Jaime Gilinski, director of the Gilinski group and majority shareholder of GeoPark, stated that the 25-year agreement represents a bet on working with PDVSA with transparency and future conviction. · El Día

Venezuelan interim president Delcy Rodríguez attended the signing ceremony and expressed satisfaction that a Colombian company joined the plan to recover the oil industry and increase production. · El Día

Jaime Gilinski, director of the Gilinski Group and majority shareholder of GeoPark, said the 25-year agreement represents a partnership between private investment and state participation. · EL NACIONAL

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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