Venezuela Energy Week (VEW) 2027 serves as the commercial and strategic meeting point for that investment. The forum brings PDVSA, the Ministry of Hydrocarbons and international operators to Caracas alongside the Venezuelan companies and workers delivering projects on the ground. Four key developments are shaping the event’s agenda and drawing new capital into the country:

Upstream Contracts Open Venezuelan Fields to Private Capital

Venezuela has signed 61 agreements under its revised hydrocarbons framework and has 44 more in negotiation, PDVSA President Héctor Obregón said on October 9. The company aims to close 105 definitive contracts before December, with about 70% covering new or undeveloped fields. The agreements take the form of joint ventures, production participation contracts and technical-financial alliances. VEW 2027 will serve as the main meeting point for PDVSA, ministry officials and operators to negotiate upcoming contract rounds and advance new partnerships.

Offshore Gas Draws Gulf and European Investors

ADNOC’s international investment arm XRG and Qatar’s UCC Oil and Gas both entered Venezuela in August through the Loran license off the country’s eastern coast, joining bp as equal partners in a block holding more than four tcf of proven resources. bp, a Gold Sponsor of VEW 2027, is operator of Loran Phase 2, which will be developed alongside the field’s first phase. Mohamed Al Aryani, President of International Gas at XRG, said Venezuela has “the potential to play a greater role in meeting regional and international energy demand.”

VEW 2027 will highlight the monetization of Venezuela’s gas reserves for regional and export markets. The Loran development, part of the wider cross-border Loran–Manatee accumulation, offers potential links to established gas infrastructure in neighboring Trinidad and Tobago.

A New Focus on Refining and Gas Infrastructure

VEW 2027 will run dedicated technical and commercial streams covering refining, logistics, storage and gas infrastructure. PDVSA’s refineries process around 350,000 bpd, with the company targeting throughput of up to 600,000 bpd in 2027.

In October, Baker Hughes signed a strategic alliance with PDVSA, Lindsayca and Fulcrum LNG to restore and expand Venezuela’s gas infrastructure, starting with supply for the domestic market and power generation. Lindsayca will provide engineering, procurement and construction capabilities, while the partners evaluate new open-access midstream and LNG infrastructure.

Venezuelan Suppliers and Workers Share in New Investment

President Rodríguez has said the agreements signed thus far are set to generate 324,000 direct, indirect and induced jobs in fields like metalworking, transport and logistics, hospitality, equipment leasing and professional services. The VEW 2027 exhibition will provide a platform for Venezuelan companies to showcase their services and capabilities, connect with international operators and explore new business opportunities.

Workforce development is a parallel priority for the government. In May, President Rodríguez announced a higher academic council for hydrocarbons to strengthen the professionalization and training of oil workers. Dave Parry, Director and Legal Counsel of the Venezuelan Petroleum Chamber, spoke at the VEW London Industry Showcase and has since said international investment and local capabilities “should not be viewed separately.”

B2B Meetings Connect Investors with Venezuelan Companies

Ministerial roundtables and targeted B2B sessions at VEW will give delegations from the Middle East, Europe and the Americas direct access to decision-makers in government and industry. Site visits to producing assets on February 25 will follow two days of meetings, giving investors a first-hand view of the fields under development.

As the country moves into the next phase of its energy expansion, VEW 2027 is designed to accelerate investment and dealmaking by connecting international capital with Venezuela’s growing pipeline of oil, gas and infrastructure projects. With PDVSA targeting crude production of 1.5 million bpd by the end of 2027, up from 1.2 million bpd, the event will bring government decision-makers, operators, investors and local suppliers together to advance commercial partnerships and translate investment commitments into projects on the ground.

Venezuela Energy Week 2027 takes place February 22–25 at the Simon Bolivar Convention Center in Caracas. Organized by Energy Capital & Power and taking place under the patronage of Acting President Delcy Rodríguez, PDVSA and the Ministry of Hydrocarbons, VEW is the country’s flagship oil and gas investment platform. To register or learn more about sponsorship and speaking opportunities, visit www.venezuelaenergyweek.com.