CPP Archives - The Daily Journal

Pacific Coast Energy plans $3.5 billion investment to boost heavy crude production in Venezuela

October 9, 2026October 9, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.— U.S.-based Pacific Coast Energy Company (PCEC) plans to invest $3.5 billion over the life of its contracts with Petróleos de Venezuela (PDVSA) to reactivate and develop oil fields in the Delta and Cabimas blocks, the company said. PCEC, a California-based company specializing in heavy crude production, took over operations at the fields […]

Venezuelan company Primavera Infinita signs agreement to develop Budare-Elotes block

September 3, 2026September 3, 2026Tatiana Da GamaLeave a Comment

The Daily Journal. — Venezuelan company Primavera Infinita signed a Production Participation Contract with Petróleos de Venezuela (PDVSA) on Wednesday to develop the Budare-Elotes block, located between Anzoátegui and Monagas states, as part of a new round of agreements aimed at adding new areas to the country’s oil production portfolio. The parties signed the agreement […]

Gilinski takes control of GeoPark and assumes operations at Bare block in the Orinoco Oil Belt

September 3, 2026September 3, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Oil company GeoPark announced its strategic entry into Venezuela’s oil industry through the acquisition and development of the Bare block, located in the Orinoco Oil Belt, in a transaction that will make the Gilinski Group the company’s controlling shareholder. According to Bloomberg, the transaction includes a 25-year Production Participation Contract (CPP) with […]