The opportunity and its practical challenges were discussed at the Venezuela Energy Week Industry Showcase in Houston on August 19.

Selten Group CEO and Managing Partner Danny Jimenez said independents can play an important role in Venezuela’s next phase of development, but investors must account for constraints around equipment, electricity, personnel and project financing.

“There are physical constraints to take into consideration [in Venezuela],” Jimenez said. “Equipment, power and people. We have to price it, finance it and implement the financial capabilities to go ahead and execute our ambitions. There is definitely space of independents in the sector and we are certainly going to see a lot of momentum there in the near future.”

Crossover Energy has established an operational foothold in eastern Venezuela by entering the country through a direct, state-level partnership in May this year, putting personnel and producing assets on the ground. Founder and CEO Eric McCrady said the company is now pursuing additional field opportunities with PDVSA and the Ministry of Hydrocarbons.

“When we turned an eye to Venezuela, we found there are more conventional resources and opportunities in the country than anywhere else in the world,” he said.

Meanwhile, Apertura Energy is also positioning itself for growth, with Co-Founder and Non-Executive Chair Scott Gilbert identifying operating capacity as a key constraint as international capital returns. The company plans to use its operating capacity as a platform for establishing a commercially successful producing asset. 

“We believe that we can throw all the capital we want at any opportunity, but without operating capacity it will be very difficult to get production off the ground,” said Gilbert.

Meanwhile, Formentera Partners indicated it is assessing conventional and unconventional opportunities, with Managing Partner Blake London identifying Venezuela’s shale resources as an important complement to conventional production. The firm is pursuing opportunities in Venezuela alongside its interests in other reopened frontier markets.

“We see an opportunity to expand and grow and we’re looking at Venezuela and Libya and there’s such a unique opportunity there, especially in Venezuela, which has just been reopened to the market. We see an opportunity that will complement the conventional opportunity, and you can’t find a better set-up than Venezuela,” London said.

Ahead of the discussion, Rystad Energy delivered a market presentation highlighting Venezuela’s substantial investment requirement and the opportunity for capital to support production growth from existing assets. The firm estimates $14 billion could restore 250,000–300,000 barrels per day (bpd) within two to three years through brownfield workovers, infrastructure repairs and short-cycle investments, while reaching 3 million bpd by 2040 could require $183 billion.

“We need to deliver these resources at the right time and maintain production capacity to ensure new discoveries keep their upward trajectory,” said Simon Sjøthun, Senior Partner and Head of Americas Advisory, Rystad Energy.

The discussion highlights an emerging market for independent operators, service companies and investors capable of deploying capital alongside the equipment, technical expertise and operating capacity required to reactivate Venezuela’s energy sector.

The investment conversation will continue at Venezuela Energy Week, organized by Energy Capital & Power and scheduled for February 22–25, 2027 in Caracas, bringing international operators and investors together to evaluate opportunities across the country’s energy value chain.

To register to attend visit, https://www.venezuelaenergyweek.com/delegate-packages, and to sponsor and exhibit visit, https://www.venezuelaenergyweek.com/sponsor