Venezuela expects US deal for 17 fields to yield production of over 1.5 MMb/d 

CARACAS, VENEZUELA (By Piero Stewart, Editores Latin Petroleum, 31.Aug.2026, Words: 300) — Venezuela’s interim president Delcy Rodríguez announced a bilateral agreement with the US government for the joint exploitation of oil fields in the Orinoco heavy oil belt, also known as the Faja.

Source: Venezuelan government

This agreement aims to consolidate Venezuela as an energy powerhouse, guaranteeing the country’s sovereignty over its reserves.