💢 North American Blue Energy Partners (NABEP), recently backed by the Trump administration, plans to deploy 52 drilling rigs in Venezuela in a major push to increase oil production, The Wall Street Journal reports, citing an internal company document. Six rigs are due by the end of 2026, another 12 in 2027, followed by two a month from 2028 onward.
NABEP has already acquired 23 new drilling rigs from US contractors and plans to deploy about 30 workover rigs to repair existing wells and boost output. The company currently produces about 200,000 barrels per day in Venezuela, compared with nearly 300,000 for Chevron. The broader US-backed plan involves 17 Venezuelan oil fields containing an estimated 65 billion barrels of reserves.
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1September 1, 2026 346 1 3
