MONTERREY, MEXICO (By editors with Energy Analytics Institute, 18.Apr.2026, Words: 335) — Located south of the Caribbean sea, Venezuela is highly rich in natural resources. As a founding member of the Organization of Petroleum Exporting Countries (OPEC), Venezuela is both a producer and an exporter of this energy resource, and is a world leader in exports of natural gas, liquefied gas, butane, and propane, according to Spain’s Repsol.
The Madrid-based company started its operations in Venezuela in 1993 to develop its upstream business through different projects spread out across the country. Since then, the Spanish company has been managing several crude and gas assets there in the development and production phase, which has enabled the company to gain vast experience in light and medium crude, and associated and non-associated gas. This, according to details on Repsol’s website on this date.
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Repsol said some examples of this include its work with offshore gas in the Perla field, the crude development projects in Petroquiriquire and Petrocarabobo, and also the exploration and exploitation of gaseous hydrocarbons in the Quiriquire block.
Perla project
The Perla field (Cardón IV) has been considered one of Repsol’s greatest discoveries, and it’s one of Latin America’s largest offshore gas fields. Currently, it is producing 580 million cubic feet of gas per day.
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Quirique Gas
Repsol holds a 60% stake in the Monagas state, an area spans 93km2 with a license for the exploration of non-associated gaseous hydrocarbons in the Quiriquire Profundo block.
Petrocarabobo
In this area spanning 383km2, work is being carried out to develop heavy crude reserves from the Carabobo Norte 1 and Carabobo 1 Centro areas as part of the Carabobo 1 project.
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Petroquiriquire
Repsol has a 40% stake in Petroquiriquire, together with CVP, operating in Quiriquire (Monagas), Mene Grande, and Barúa Motatán, located in the states of Zulia and Trujillo.
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By editors at Energy Analytics Institute (EAI) reporting from Atlanta, Baton Rouge, Caracas, Houston, Monterrey, Mexico City, Panama City, and Bogota. Energy Analytics Institute (EAI) does not provide investment advice. © 1999-2026 Energy Analytics Institute (EAI). All Rights Reserved.
