Speaking at the Venezuela Energy Week Industry Showcase in Houston on August 19 PDVSA Executive Vice President Jovanny Martínez described infrastructure recovery as both the sector’s central challenge and a major commercial opportunity.

“We have a challenge that is going to become a victory,” Martínez said. “In Venezuela, we have an industry that represents an opportunity to realize major agreements.”

Martínez added that Venezuela possesses a strong gas infrastructure base that can support extended production and commercialization, but requires investment to restore reliability, increase capacity and unlock its broader potential.

“We need to increase the reliability and capacity of that infrastructure,” he said.

The infrastructure push comes as PDVSA transforms from a historically state-dominated operator into a more commercially oriented partner under Venezuela’s revised hydrocarbons framework. New structures are enabling greater private participation while international companies re-enter upstream, services and trading activities.

PDVSA has already reached approximately 1.25 million barrels per day of national production, while new agreements target mature-field redevelopment, reservoir studies, digital modernization and well rehabilitation across Venezuela’s production basins.

The company is also expanding its natural gas strategy, including the Loran offshore development involving bp, XRG and UCC, while pursuing opportunities to modernize non-associated gas and develop export infrastructure linking Venezuela with regional markets.

Martínez said investment and association schemes will be essential to converting Venezuela’s substantial resource base and infrastructure potential into sustainable production, stronger commercial returns and long-term economic development.

“The only way for our ambitions to become a reality is for us to promote investments, find association schemes and present opportunities to the world,” concluded Martínez.

The message reinforces Venezuela’s broader investor outreach ahead of Venezuela Energy Week, scheduled for February 22–25, 2027 and organized by Energy Capital & Power, where Caracas will continue presenting opportunities across oil, gas and the wider 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