Repsol in Venezuela

View of some buildings in a city in Venezuela

World leader in exports of natural gas, liquefied gas, butane, and propane

Located south of the Caribbean sea, Venezuela is highly rich in natural resources. As a founding member of the Organization of Petroleum Exporting Countries, Venezuela is both a producer and an exporter of this energy resource, and is a world leader in exports of natural gas, liquefied gas, butane, and propane.

We came to Venezuela in 1993 to develop our Upstream business through different projects spread out across the country. Since then, we have been managing several crude and gas assets there in the development and production phase, which has enabled us to gain vast experience in light and medium crude, and associated and non-associated gas. Some examples of this include our work with offshore gas in the Perla Field, the crude development projects in Petroquiriquire and Petrocarabobo, and also the exploration and exploitation of gaseous hydrocarbons in the Quiriquire block.

Map of facilities and main figures

Main projects

Perla project

The Perla Field (Cardón IV) has been considered one of Repsol’s greatest discoveries, and it's one of Latin America’s largest offshore gas fields. Currently, it is producing 580 million cubic feet of gas per day.

Quirique Gas

We hold a 60% stake in the Monagas state. The area spans 93 km² and has a license for the exploration and exploitation of non-associated gaseous hydrocarbons in the Quiriquire Profundo block.

Petrocarabobo

In this area spanning 383 km², work is being carried out to develop heavy crude reserves from the Carabobo Norte 1 and Carabobo 1 Centro areas as part of the Carabobo 1 project.

Petroquiriquire

We have a 40% stake in the Petroquiriquire joint venture, in the Venezuela Petroleum Corporation (CVP), which operates in the Quiriquire fields in Monagas state, and in Mene Grande and Barúa Motatán in the Zulia and Trujillos states respectively.