AN approved 15-year extension to joint ventures Boquerón and Petroperijá for oil activities

Published at: 20/11/2025 03:08 PM

This Thursday, the National Assembly (AN) approved the extension of the joint ventures Boquerón, S.A. and Petroperijá, S.A. for the period 2026-2041, pursuant to articles 150 and 187, paragraph 9, of the Constitution of the Bolivarian Republic of Venezuela and article 34, paragraph 1, of the Organic Law on Hydrocarbons.

During the regular session, Deputy Orlando Camacho presented the report in support of the request, stressing that the measure is part of national energy development and in a context of sanctions and coercive measures against the country. He stressed that oil and gas production has recovered thanks to the efforts of workers.

Camacho specified that Petroperijá plans to extract 68 million liquid barrels of oil and more than 28 billion cubic feet of associated gas, with an investment of more than 292 million dollars. Boquerón, for its part, expects to reach 23 million barrels of crude oil and 269 billion cubic feet of gas, with an investment of more than 324 million dollars.

The parliamentarian indicated that investments reflect the confidence of foreign capital in Venezuela and generate support for workers and the population. He added that these actions accompany the economic program led by the executive vice president, Delcy Rodríguez, which promotes the 13 productive engines.

Mazo News Team