Insight
Venezuela in transition? First steps toward upstream recovery
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Political events in Venezuela have been unfolding rapidly. A self-proclaimed president and US sanctions on NOC PdVSA have made an unstable domestic environment even more unpredictable. We describe the current state of the industry, field conditions, and what is needed to turn the oil sector around. Service companies will have an important role to play in the sector's near-term recovery. At the same time, competitive fiscal terms will be key to attracting the best operators to grow production further.
Table of contents
- Executive Summary
- Sketching the scene
- What is the status of PdVSA?
-
So what does it take to recover?
- Legacy vs. the future
- Fiscal terms
- The corporate landscape
- Turning the corner is within reach
Tables and charts
This report includes the following images and tables:
- Production by area 2008-2026
- Faja JV production 2019
- Faja JV projects
- Government take in Latin America
What's included
This report contains:
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