Repsol reaffirms strategic commitment to boost domestic energy production

Published at: 16/06/2026 03:10 PM

The Spanish oil company Repsol has formalized a new phase of cooperation with Petroleum of Venezuela, Sociedad Anonima (PDVSA), aimed at consolidating its presence in Venezuela and significantly increasing the productive capacities of the hydrocarbons sector.

This strategic agreement, based on a solid track record of more than three decades of continuous collaboration, seeks to energize the exploitation of key assets and strengthen the global energy supply through efficient and technologically advanced management.

“We have the technical, operational and human assets and capacities in the field to increase our production in the country,” reaffirmed Francisco Gea, Director General of Exploration and Production at Repsol, stressing that the company is prepared to increase gross production by 50% in the short term and triple it over the next three years, provided that the necessary operating conditions and investment frameworks are maintained.

The project, developed under a shared leadership scheme, will integrate new logistics and commercial capabilities to optimize the Tomoporo and La Ceiba fields, as well as the Petroquiriquire asset. This deployment responds not only to the company's corporate interests, but also to the need to stabilize production flow through an operating framework that guarantees both investment and compliance with international safety and efficiency standards.

With this step, the Spanish oil company is once again positioning itself as a fundamental ally in the reactivation of the national oil engine. The company concludes that this alliance makes it possible to move with certainty towards the objective of strengthening energy sovereignty, taking advantage of current licenses for transactions linked to oil and gas projects that will benefit both the Venezuelan state company and the global energy ecosystem.

Mazo News Team