Venezuelan Acting President Delcy RodrĂguez shakes hands with US Interior Secretary Doug Burgum in Caracas on Thursday, March 5, 2026. Photo: Venezuelan Presidential Press.
Venezuela and the British multinational oil company Shell have signed an agreement outlining important opportunities in the hydrocarbon sector within Venezuelan territory. The document was signed by Venezuela’s Acting President Delcy RodrĂguez, the president of PetrĂłleos de Venezuela (PDVSA), HĂ©ctor ObregĂłn, and Shell’s regional vice president, Adam Lowmass.
The parties also signed a technical and financial alliance to boost hydrocarbon production. The agreement, made this Thursday, March 5, focuses on the comprehensive development of the Carito and Piritual production units, located in the Punta de Mata Division of Monagas state. These developments fall within the framework of the recently reformed Hydrocarbons Law, enacted by the acting president on January 29, following its unanimous approval by the National Assembly earlier that day.
As part of the signing ceremony, a private agreement was formalized between Shell and the Venezuelan private engineering firm Vepica. The event was attended by the US Secretary of the Interior and Chairman of the Energy Dominion Council, Doug Burgum, who arrived in Venezuela on Wednesday.
On February 26, as part of a sovereign policy of respectful relations and strategic cooperation, Acting President RodrĂguez held a working meeting with representatives of Shell in the SimĂłn BolĂvar Hall of Miraflores Palace to evaluate gas projects. Lowmass, Cederic Cremers, president of Global Gas; ElĂas Nucette, vice president of Shell; Alfredo Urdaneta, Shell’s representative in Venezuela; and HĂ©ctor ObregĂłn, president of PDVSA, among other Venezuelan officials, were present at the meeting.
New business models and economic opportunities
Following the signing, RodrĂguez stated that the government is pleased to reach these agreements with Shell on oil and gas. She indicated that Venezuela is already implementing the Hydrocarbons Law with new business models.
She emphasized her satisfaction in witnessing the agreement between Shell and Vepica. “It makes me very happy to see Venezuelan companies joining the international energy and mining agenda,” she said. “This will also mean more jobs for our workers.”
In a call to the youth of Venezuela, RodrĂguez stated that there are growing opportunities within the country. She urged those who left in search of better economic prospects to return to their homeland, noting that the government is dedicated to the happiness of the Venezuelan people.
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“The cooperation that Venezuela can have with other countries is for the benefit of the country and its people,” RodrĂguez added. “It shows that Venezuela has highly trained workers and top-level professionals to face all the challenges that our country needs to address.”
Addressing Secretary Burgum, the acting president noted that the steps being taken by both nations demonstrate the goodwill to build an agenda for cooperation in the energy and mining sectors. She added that these steps will strengthen relations between both countries for the benefit of the people of Venezuela and the United States. She concluded that the visit of the US official opens new paths and brings substantial work for the technical teams of both nations.
(Diario Vea) by Yuleidys Hernández Toledo
Translation: Orinoco Tribune
OT/JRE/SF
