Poll: Will Venezuela’s offshore oil industry rebound in the next three years?
Venezuela was once a pioneer in offshore oil production, starting in Lake Maracaibo nearly a century ago—predating Gulf of Mexico operations.
After years of decline under political and economic turmoil, recent leadership changes have sparked debate about whether the country can revive its offshore sector.
Analysts estimate it could take 18 months to 3+ years to double production, even under optimal investment and regulatory conditions. And Rystad Energy recently predicted that reaching 3 mbpd by 2040 would require ~$183 billion in total oil and gas capex, including heavy spending on pipelines and upgraders.
We want to hear from you—executives, engineers, consultants and field professionals—about how much Venezuela’s offshore oil output will improve over the next three years.
Your (anonymous) input will guide Offshore’s coverage and spark conversations across our platforms.