Chevron and PDVSA strengthen strategic alliance to increase oil production in the Orinoco Belt

Published at: 13/04/2026 04:54 PM

This Monday, the representative of the Chevron company in Venezuela, Javier La Rosa, highlighted during an agreement signing at the Miraflores Palace in Caracas, the solid collaboration established with the government led by the president in charge Delcy Rodríguez and Petrleos de Venezuela (PDVSA) after the signing of a new asset exchange.

During the meeting, the spokesperson announced that this step reaffirms a 103-year commitment in the country: “Today we are increasing our position of independence to 49% and we are incorporating the Ayacucho 8 block into our Petropiar operations.”

The manager stressed that the success of current operations is due to the implementation of a joint business model that has made it possible to achieve optimal levels of efficiency. In this regard, he proudly expressed: “We can say that we have in the three joint ventures that we manage the largest production in the country,” also stressing that the determination of both parties has been key to overcoming operational and financial challenges in the region.

Within the framework of this new phase, it was emphasized that discipline in capital management and organizational capacity will be the pillars to make the most of the resources of the Orinoco Belt.

The representative of the US oil company announced that regional energy security is a priority: “This asset exchange that we signed today is the first step in this new phase, a step that shows a discipline in capital management strengthening our position.”

Finally, the company expressed its confidence in the current legal framework to accelerate the development of oil assets in the national territory. “We are sure that this new law will be fundamental in accelerating the development of the assets we have and oil production in Venezuela,” said the spokesman at the close of his speech, confirming Chevron as a strategic partner with a long-term vision under a scheme of mutual benefit.

Mazo News Team