In thet last interview Mr. Feroz Nawrozy mentioned to the the Zee podcast that RAYGAS is interested to cooperate with Venezuela in oil and gas and they are preparing offer letter to the Venezuelan ministry of Energy. Venezuela’s current oil and gas development strategy focuses on reversing decades of production decline through foreign investment, regulatory reform, and debt repayment, targeting a production goal of 2 million barrels per day (mmboepd) by 2030. The strategy is anchored by these key developments: Hellenic Shipping News Regulatory Overhaul: Acting President Delcy Rodríguez introduced a partial amendment to the Organic Hydrocarbons Law in January to ease restrictions on foreign investment, legally protect anti-blockade mechanisms, and make development more economically viable. Baker McKenzie Asset Swaps and Debt Repayment: State-owned PDVSA is actively clearing debts owed to international companies through recurrent "in-kind" crude oil cargoes. Companies like Repsol and Chevron are utilizing these continuous shipments to finance upstream investments, aiming to boost production by 50% or more in the near future. BNamericas Natural Gas Monetization: With 192 trillion cubic feet of stranded natural gas, Venezuela's strategy aims to shift from flaring and re-injection toward domestic industrialization and regional integration, turning these assets into a standalone revenue stream. CSIS | Center for Strategic and International Studies Economic Incentives: To ensure greenfield projects are greenlit, the strategy faces pressure to optimize project economics, particularly as heavy oil extraction typically requires Brent crude to remain above $80/bbl to break even.
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