Repsol in Venezuela

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 Petrocarabobo, and the exploration and exploitation of gaseous hydrocarbons in the Quiriquire block.

Our activity in figures

3 million

oil barrels

17 million

barrels of oil equivalent in gas production

853 km2

of total surface area

Repsol in Venezuela. Map of production in Venezuela
Main projects
Repsol worldwide Venezuela. Panoramic image of the oil platform in Cardon IV

Perla Project in Cardón IV

This area is located in the Gulf of Venezuela and we have a 50% stake in developing it alongside Eni. The Perla Field has been considered one of Repsol’s greatest discoveries since 2015, and it is one of Latin America’s largest offshore gas fields. Production is currently expected to reach 1.2 billion cubic feet of gas per day.

Repsol worldwide Venezuela. Image of the Quiriquire Gas facilities.

Quiriquire Gas

We have a 60% stake in the Monagas State. The area spans 93.15 km2 and has a license for the exploration and exploitation of non-associated gaseous hydrocarbons in the Quiriquire Profundo block.

Repsol worldwide Venezuela. Image of refinery facilities

Petrocarabobo

We have an 11% share in a consortium consisting of other international corporations and the Venezuela Petroleum Corporation (CVP). In this area spanning 382.86 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.

Valve unit of refinery machinery

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.

Image of trees in a forest

Ypergas

We have a 15.001% stake in the license for the production of non-associated natural gas alongside other national and international companies to develop the Yucal Placer Norte and Sur blocks in Guárico State.

Committed to growth

Education, health, and well-being are all at the heart of our social commitment in Venezuela. Since the beginning, we have been concerned with caring for both the environment and the people around us through social projects that help to improve and optimize resources.

Lights, Camera, Education!

The Educine Project brings the movies to the classroom. We promote positive values and emotions in the children through movies and shorts directed by our volunteers.

Casa de Labores Pesqueras (Fishing Equipment Workshop)

We have created a refuge for fishermen from Connpa La Macolla, the towns of Carirubana and Los Taques, and in the parish of Jadacaquiva in Punta Macolla, for the fish migration period.

Bringing electricity to towns

We brought electricity to the town of Punto Macolla and the surrounding area by installing hybrid systems (wind, photovoltaic, and diesel) to generate electricity, supplying eight homes and a school. 

Culture of recycling

Our commitment to promoting a culture of recycling has led us to organize three editions of the Tapatón activity together with Fundación Tapas Anzoátegui. The initiative consists of collecting 10 tons of plastic to help the children at the Luis Razetti Hospital while spreading awareness and doing our bit for the environment.

Contact
Centro Empresarial Norma
Address: Av. Ppal. de Lechería c/c Onoto Bis.
Lechería 6016. Estado Anzoátegui
Tel: +58 281 500.4700

Last updated: December 2020