Venezuelan oil production at North American Blue Energy Partners’ Petrozamora fields reached a record 115,000 barrels per day on October 23, 2026, the company said, as US officials toured its operations under an August agreement to expand output.

Key Takeaways

  • US officials visited NABEP operations in western and eastern Venezuela on October 23 and 24.
  • NABEP said three rigs were working at Junín 10 and three more were due to start, including one recently delivered to Venezuela.
  • The company reported total hydrocarbon production of 223,509 barrels of oil equivalent per day across its fields as of October 19.

Venezuelan oil production and the US visit

Daniel Kennedy, deputy assistant secretary of state for energy and critical minerals, joined NABEP Chief Executive Alejandro Betancourt and leaders of Venezuelan state oil company PDVSA at the Bachaquero field on Lake Maracaibo on October 23. They inspected a compression module and reviewed two projects expected to add production within four months.

The following day, Kennedy and US Chargé d’Affaires John M. Barrett traveled to NABEP’s Junín 10 block in the Orinoco Belt. Barrett said the company had increased production and brought in new rigs from the United States since the agreement was announced.

Drilling and output plans

Junín 10, formerly known as Junín Sur, is the site of most of NABEP’s new drilling. The company said it also operates 13 workover rigs for well repair and maintenance, with another 15 on the way.

NABEP said it had increased production from about 18,000 barrels per day to more than 200,000 over the past two years, supported by roughly $1 billion of its own investment. The company is targeting more than 1 million barrels of oil per day in the near term; that figure is a target, not current production.

The company said its August agreement with the US Departments of State and War calls for a significant expansion of oil production in Venezuela.

Next milestone

NABEP expects the Bachaquero 3 and Ceuta 4 projects to add production within four months of the October visit.

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