As the only seismic data provider operating under a multi-client contract with Venezuela’s Ministry of Hydrocarbons – and as the Official Geosciences Partner to Venezuela Energy Week 2026 – Geoex MCG is helping enhance understanding of the country’s offshore basins through modern processing technologies and expanded seismic coverage.

Speaking at the Venezuela Energy Week Industry Showcase in London on July 30, Jean-Philippe Rossi, Executive Vice President at Geoex MCG, said the data-reprocessing milestone forms part of the company’s strategy to reduce exploration uncertainty and provide international investors with a clearer understanding of Venezuela’s offshore hydrocarbon potential.

“Lucrative investment opportunities within Venezuela’s offshore basins are there, but it starts with access to modern seismic data and exploration,” said Rossi.

Geoex MCG’s work builds on historical offshore datasets that have already identified significant hydrocarbon potential, with the company’s latest reprocessing campaign improving the quality of legacy seismic and revealing additional exploration opportunities.

Geoex MCG partnered with DUG Technology to apply advanced processing technologies to existing datasets, effectively refurbishing older seismic information and enhancing subsurface imaging. Rossi said the reprocessed data is revealing new exploration opportunities, with Geoex MCG “seeing new structures, including in areas where structures had previously been identified, but there are now new features to see.” He added that “this means there are more prospects to identify.”

The reprocessed datasets cover Venezuela’s offshore areas from east to west, including prospective acreage near the Dragon gas field, as well as exploration areas in the south and west. Rossi said Geoex MCG has prioritized the reprocessing of the most critical areas to support exploration decisions and investment evaluation.

The initiative is set to expand, with Geoex MCG planning a new 50,000-km seismic acquisition program in partnership with Venezuela’s Ministry of Hydrocarbons. The additional survey work will complement existing datasets – some of which date back decades – by providing a more comprehensive geological picture of Venezuela’s offshore basins.

The planned acquisition program will also target areas where modern seismic coverage has been limited or previously unavailable, particularly in northern offshore regions. “There are many opportunities to seize in Venezuela, but you need to know the data,” said Rossi.

The London Industry Showcase marks the first in a series of international engagements leading up to Venezuela Energy Week 2026, taking place October 26-29 in Caracas. The event will convene government officials, international operators, investors and technology providers to examine the country's evolving regulatory framework, upstream opportunities and long-term energy development strategy.

Supporting Venezuela's Earthquake Recovery

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela.