According to Apertura Energy CEO Greig Gilbert, the combination of easing sanctions, expanded OFAC licenses and reforms to hydrocarbons legislation is creating conditions for renewed international participation. Speaking at the Venezuela Energy Week London Industry Showcase on July 30, Gilbert described the current market as a rare opportunity for investors willing to take a long-term view, arguing that Venezuela’s energy revival will depend on companies bringing capital, operational expertise and local partnerships.

“There is an opportunity right now and we can’t afford to miss it,” said Gilbert.

Apertura Energy – a Diamond Plus Sponsor of Venezuela Energy Week 2026 – was established to support investment into Venezuela through capital, technical capabilities and local knowledge, with the company focused on opportunities that can generate sustainable value while contributing to the country’s long-term recovery.

“We want to be in Venezuela for the long term,” he said. “We are not looking at this as an opportunistic approach. We want to bring wealth to the country.”

Speaking during the opening of the London Industry Showcase, African Energy Chamber Executive Chairman NJ Ayuk said Venezuela’s significant resource base must be matched by investment to address infrastructure constraints and rebuild oilfield services capacity.

“Below-ground reserves don't necessarily translate into production. Above-ground risks are important,” Ayuk said. “There is a strong recognition that it is time to turn the page and make Venezuela one of the best countries to invest in.”

Gilbert also highlighted the operational challenges investors will need to navigate, particularly the deterioration of Venezuela’s oilfield services infrastructure and the need for new capital to restore sector capacity.

“The services infrastructure has unfortunately deteriorated, so it’s going to require capital to reactivate,” Gilbert said. “The service companies in Venezuela right now that have the equipment and knowledge will go work for the Chevron’s and Eni’s. That leaves smaller mid-cap companies fairly exposed to production risk.”

Ayuk emphasized that Venezuela’s reopening will create opportunities beyond major international operators, including for independent producers, technical service providers and geophysical companies supporting exploration and production.

“What makes it so exciting is that it's not only about the big companies, but also the small and mid-sized companies as well as service companies looking at seismic and seeing how to really bring this market back,” Ayuk said.

Looking ahead, Gilbert said Apertura Energy aims to establish an operational presence in Venezuela and complete its first upstream transaction within the next year, positioning the company for long-term participation in the market.

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.