North American Blue Energy Partners Boosts Operations in Venezuela

CARACAS, Venezuela, Oct. 13, 2026 /CourierPR/ -- North American Blue Energy Partners (NABEP) has significantly bolstered its operations in Venezuela with the addition of eleven new 550-horsepower workover rigs, marking the first time in over 15 years that such advanced mobile repair-and-maintenance systems will operate in the country's oil fields. Additionally, the company has brought two new 1,500-horsepower drilling rigs on board, with more equipment expected to arrive soon.

These new additions are part of a broader expansion strategy that has seen NABEP purchase 60 rigs, 30 steam boilers, and 70 pieces of heavy machinery, giving it the largest heavy-equipment fleet in the country. The company’s steady investment in infrastructure and equipment is a testament to its commitment to increasing oil production and revitalizing Venezuela’s economy.

The agreement signed in August 2026 between NABEP and the U.S. Departments of State and War aims to significantly expand oil production in Venezuela. NABEP controls the rights to commercialize more than 65 billion barrels of P1 oil reserves and plans to invest nearly $100 billion to increase production capacity and improve oil-and-gas infrastructure.

NABEP’s operations are rapidly expanding in Lake Maracaibo and the Orinoco Belt. The company’s near-term goal is to increase production to more than 1 million barrels of oil per day. This ambitious target follows a significant scaling of production from approximately 18,000 barrels per day to over 200,000 barrels per day in just two years, through a company-funded investment of roughly $1 billion.

With a workforce of 5,000 employees and support for an additional 10,000 contract workers, NABEP is making substantial progress in its operations. The company’s commitment to responsible energy development and the safety of its people is evident in its ongoing efforts to modernize and expand its operations in Venezuela.