The African Energy Chamber (AEC) will conduct a three-day working visit to Venezuela on August 3-5, 2026, reinforcing its support for the country’s energy sector reforms and advocating for increased international investment in oil, natural gas and associated infrastructure. Led by Executive Chairman NJ Ayuk, the AEC delegation will engage key industry leaders and government representatives to assess the country’s evolving investment landscape, identify opportunities for collaboration and support efforts to mobilize foreign capital as the country re-positions itself as a global energy supplier.
The visit comes as Venezuela enters one of its most decisive energy chapters yet, underpinned by regulatory reform, reengagement with foreign operators and a growing reserve base. At a time when global supply chains are increasingly volatile, the visit will showcase Venezuela’s capacity to become a central player in meeting growing international energy demand, while promoting new capital frontiers such as natural gas, AI and digital infrastructure.
Home to some of the world’s largest proven oil and gas reserves, Venezuela has the geological advantage to play a more prominent role in global markets – all it needs is investment. Recent reforms have created a stronger foundation for international capital expenditure, opening new pathways for operators and financiers, while renewed engagement with international companies has created opportunities for companies able to provide capital, technology and technical expertise. Changes to the country’s hydrocarbons framework have created greater flexibility for private participation and strengthened the commercial terms available for operators.
These efforts have already begun to yield results, setting the stage for accelerated production growth and project reactivation. Repsol plans to increase production from its Venezuelan assets while Eni is relaunching a heavy crude project in the Orinoco Belt. Chevron is cementing its presence in the country while ExxonMobil and ConocoPhillips have expressed interest in emerging Venezuelan opportunities. These moves point to a market poised for growth, underscoring the impact reform has played in reopening the sector.
Natural gas represents a particularly significant opportunity. International companies are advancing projects capable of monetizing Venezuela’s offshore resources and strengthening regional energy supply. Shell is progressing the Dragon gas development, designed to deliver Venezuelan gas to Trinidad and Tobago, while bp is advancing the Cocuina-Manakin development. Repsol and Eni are also pursuing increased production from the Cardón IV project, demonstrating the growing commercial focus on Venezuela’s gas resources.
“Venezuela continues to be integral to global energy security. When foreign investment enters Venezuela’s energy sector, it unlocks vital supply needed to meet expanding global demand. The reforms underway send an important signal to the market. Continued progress on competitive terms, regulatory certainty and international collaboration can position Venezuela to attract the capital and technology required to increase production and deliver energy to markets that need it,” states Ayuk.
For the AEC, these developments represent the beginning of a much larger investment opportunity. Beyond exports and traditional industrial demand, Venezuela’s gas resources could support the expansion of reliable power infrastructure required by emerging industries. Rapid global growth in AI, cloud computing and data centers is increasing demand for secure, scalable electricity supply, creating a potential new market for gas-backed power development.
“We are exceptionally bullish on Venezuela’s natural gas potential. Developing gas reserves to power next-generation technology -including data centers and AI infrastructure – represents the next major investment frontier in the region,” Ayuk added.
Stepping into this picture, the AEC’s upcoming working visit builds on this momentum to showcase Venezuela’s energy story to a global audience. Backed by world-class resources, an improving investment climate and opportunities spanning upstream oil, natural gas infrastructure and digital technologies, Venezuela is positioning itself as a major global energy hub. Unlocking this potential will require greater investment to bring projects online, expand infrastructure and accelerate development.
