Minister of Hydrocarbons Paula Henao will outline how the new hydrocarbons law is being applied. The reform, together with regulations published in July, introduced a production participation contract for private operators and set the terms for royalties and the integrated hydrocarbons tax. Speaking at the VEW Houston Industry Showcase in August, Henao said the changes had opened “opportunities for investment across the entire value chain from upstream to commercialization.” She has also pressed for gas to receive the same attention as oil, a priority reflected in the offshore licenses awarded this year.

PDVSA Executive Vice President Jovanny Martínez will address how the national oil company works with its partners under the new framework. In September, Eni signed a 25-year contract making it exclusive operator of Junín-5, with full technical, financial and commercial responsibility for a field holding an estimated 35 billion barrels of oil in place. The contract replaced a joint venture in which PDVSA held 60%. “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,” Martínez said at the Houston showcase.

David Campbell, Senior Vice President for Latin America and the Caribbean at bp, was in Caracas with chief executive Meg O'Neill in August when the company received the license for the second phase of the offshore Loran field on the Plataforma Deltana. Loran Phase 2 holds an estimated 4 trillion cubic feet of recoverable gas, and bp will operate it with an equal share alongside ADNOC's XRG and Qatar's UCC Oil and Gas Holding. During the same visit, Campbell and Minister Henao signed a memorandum of understanding for the Carúpano East Block. bp is also advancing the Cocuina-Manakin field, which straddles the maritime border with Trinidad and Tobago, and is a Gold Sponsor of the event.

Two newer companies will bring the perspective of Venezuela's independents. Crossover Energy, led by Founder and CEO Eric McCrady, acquired control of a local operator in eastern Venezuela and plans to begin operating wells in January. “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,” McCrady said at the Houston showcase. Apertura Energy, a London-listed company led by CEO Greig Gilbert and Co-Founder and Non-Executive Chair Scott Gilbert, changed its name and strategy in May to focus solely on Venezuela. It plans to acquire upstream interests alongside drilling, midstream and service businesses. “The time is now,” Greig Gilbert told the audience at the VEW London Industry Showcase in July.

Casey Maxwell, President for the Western Hemisphere at Halliburton, joins as the company resumes work in Venezuela after nearly nine decades of experience in the country. The Supreme Court ordered the restart of Halliburton's operations in July, and in September the company signed agreements with Brazil's Eneva to identify and pursue development opportunities. Halliburton is a Platinum Sponsor of the event. David Reed, Executive Vice President for the Americas at Weatherford, speaks for one of four international service companies authorized to maintain essential operations in Venezuela in recent years. “We shouldn't look at Venezuela as a market re-entry – we should look at it as a reactivation,” Reed said at the Houston showcase.

Joe Zhou, Senior Vice President for Earth Data in the Americas at Viridien, previously led the company's Earth Data business in South America. Explorers use Viridien's seismic libraries to evaluate frontier basins before committing to acreage, work that will expand as Venezuela offers more offshore blocks. Emiliano Pescador is CEO of Blue Marine, a Mexican offshore services group that operates FPSOs and supply vessels, builds and maintains offshore facilities, and has worked in consortium with SLB for more than 15 years. Both companies work in areas that Venezuela's offshore gas projects will need as they progress from licensing to development.

The four-day program at the Simón Bolívar Convention Center opens with a pre-conference day on February 22, followed by two days of plenary and technical sessions, with the exhibition running alongside. A Deal Room will connect investors with project developers, a Farm-In/Farm-Out Forum will present oil and gas assets seeking partners. February 25 is reserved for site visits.

Organized by Energy Capital & Power and taking place under the patronage of Acting President Delcy Rodriguez, PDVSA and the Ministry of Hydrocarbons, Venezuela Energy Week 2027 will convene in Caracas on February 22–25. To register, visit www.venezuelaenergyweek.com. To sponsor or exhibit, visit www.venezuelaenergyweek.com/sponsor.