Company executives showcased Shell’s technological and operational capabilities in key areas to the Venezuelan delegation
The Daily Journal.- A Venezuelan government delegation led by Hydrocarbons Minister Paula Henao visited multinational energy company Shell’s facilities to gain firsthand knowledge of its technological capabilities in offshore exploration, natural gas development, among other areas.
Johann Álvarez Márquez, national superintendent of the Special Economic Zones and Venezuela’s chargé d’affaires in the United States, shared the information on his Instagram account. The diplomat said the visit follows instructions from Acting President Delcy Rodríguez to strengthen efforts to revitalize Venezuela’s hydrocarbon industry.
During the visit, company executives presented Shell’s technological and operational capabilities in key areas such as offshore exploration, as well as its technical expertise in natural gas development and the application of highly complex technologies in hydrocarbon reservoirs. The meeting allowed Venezuelan authorities to assess the company’s level of expertise in these areas.
Álvarez said the government continues to evaluate the capabilities of leading energy companies to identify areas where they can complement Venezuela’s needs. This strategy seeks to “strengthen and advance the revitalization of our national hydrocarbon industry,” he said.
Venezuela evaluates technology partners for the energy sector
Shell recently launched a bidding process to contract drilling services for the Dragon Field gas project in eastern Venezuela. The plan calls for drilling four wells in the area starting in the second quarter of 2027.
Sources familiar with the sector say the parties expect to award the contract by the end of September 2026. Meanwhile, the agreement will only take effect if the project receives a final investment decision. The field holds estimated reserves of 4.2 trillion cubic feet of gas.
The visit to Shell forms part of a broader Venezuelan government strategy to identify technology partners that can help accelerate the sector’s recovery. Venezuela, which holds the world’s largest oil reserves, aims to increase its current production of 1.2 million barrels per day to 1.4 million barrels per day by year-end.
The meeting follows recent agreements with Hunt Oil and SLB to boost onshore production.
