The Canadian company said it is working with U.S. partners to acquire stakes in joint ventures and develop new production agreements following the lifting of U.S. sanctions.
The Daily Journal – Canadian company New Stratus Energy (NSE) announced that it is negotiating the acquisition of stakes in joint ventures with Petróleos de Venezuela S.A. (PDVSA) and pursuing new production agreements to operate oil fields that PDVSA currently manages.
In a statement, the company said it is collaborating with several partners to finalize investments in Venezuela’s energy sector under the country’s new Organic Hydrocarbons Law, enacted on January 29, 2026.
“NSE is working with numerous partners to acquire interests in existing joint ventures with PDVSA and sign new production participation agreements to operate oil fields that PDVSA currently manages,” the company said.
NSE added that it is holding direct talks with U.S. oilfield service companies, operators, and financial firms to sign memorandums of understanding (MOUs), which will provide the foundation for later negotiations with Venezuela’s state-owned oil company.
Five projects in the final stage
The company said it began evaluating investment opportunities in Venezuela’s hydrocarbons sector after the United States lifted its sanctions earlier this year.
According to NSE, the evaluation has focused on recoverable reserves, production potential, and the condition of the country’s oil infrastructure.
“Since the U.S. government lifted all previously imposed sanctions, NSE has been evaluating and prioritizing different oil and gas assets together with its U.S. partners,” the company stated.
As a result of that process, NSE said it now has five investment opportunities that have reached the final stage of negotiations for memorandums of understanding.
Sector reopening
The announcement comes as Venezuela’s oil sector reopens to foreign investment following the removal of U.S. sanctions and the implementation of a new regulatory framework for the hydrocarbons industry.
Although NSE did not identify the joint ventures or oil fields involved in the negotiations, the statement confirms growing interest from international investors in developing new exploration and production projects in Venezuela through partnerships with PDVSA.
