The Daily Journal. — U.S. corporations White Hilt Capital and Sunergon Oil Operating have formed a strategic alliance to support the development, production, and export of oil and gas in Venezuela’s Orinoco Oil Belt.
Alejandro Terán Martínez, president of the Latin American Association of Oil Professionals of Texas (ALEP) and chief executive officer of Sunergon, disclosed the information in remarks to the Venezuelan newspaper Últimas Noticias.
Massive rehabilitation effort and higher production
“This agreement establishes a solid framework for investment and development and, most importantly, for the rehabilitation of more than 5,000 oil wells in the Orinoco Belt. It represents a decisive step that will immediately support higher crude oil production and greater natural gas extraction in the country,” Terán Martínez told the newspaper.
The master plan, which the parties formally signed on June 11, 2026, sets an export target of more than 26 million barrels of Venezuelan crude per year for global markets. To support that growth, the financial framework includes the purchase of critical goods and services, the development of new wells, the reactivation of existing assets, the modernization of surface facilities and electrical systems, and extensive maintenance of logistical and operational infrastructure.
To strengthen the project’s financial viability and technical support, White Hilt Capital and Sunergon Oil brought in a third major international partner by signing an association agreement with Aldhabi Oil and Energy Technology, a private energy company headquartered in Abu Dhabi, United Arab Emirates.
Terán Martínez said the initiative seeks to generate a tangible social impact in the areas of operation through direct and indirect job creation, the restoration of community infrastructure, and broader economic activity.
He also noted that these objectives fully align with the United States’ framework for revitalizing Venezuela’s economy through the energy sector.
Source: Últimas Noticias
