#Venezuela #NABEP #Zuata 2 #Orinoco

NABEP's Strategic Restart of Key Furnace at Zuata 2 Plant

On November 3, 2026, North American Blue Energy Partners (NABEP) announced the successful restart of a critical furnace at its Zuata 2 facility (Petrocedeño) located in the Orinoco Oil Belt of Venezuela. This refurbishment marks a significant milestone for the company, promising to add approximately 8,000 to 10,000 barrels of oil per day to its production capacity in the coming weeks. With the operation running for a full year, this translates to 2.92 to 3.65 million barrels of crude, representing hundreds of millions of dollars in potential revenue based on current oil prices, and all from a single furnace.

The furnace plays a pivotal role in the processing line at the plant by heating the extra-heavy crude extracted from underground, which is initially mixed with water. The heating process helps to separate the two components, an essential step to ensure that the crude meets the market's required standard of having no more than 2% water content. The restart of the furnace on October 31, 2026, came after extensive repairs, technical inspections, and mechanical tests, setting the stage for increased operational efficiency.

The processing line at Zuata 2 has a capacity to manage around 210,000 barrels daily, which indicates significant growth potential for NABEP as it ramps up operations.

Alejandro Betancourt, CEO of NABEP, enthusiastically stated: "The capacity that remained idle for years is once again productive for Venezuela, thanks to our dedicated team in the east. Two years ago, our company was producing around 18,000 barrels daily. This furnace will allow us to gain roughly half that output within our total production. Innovations like this speed up our growth and will create employment opportunities for many Venezuelans."

This restart aligns with a recent update from NABEP announcing plans to increase its oil rig fleet to 41 by the end of the month. As of October 19, 2026, the company's total production reached 223,509 barrels of oil equivalent per day, an increase from about 200,000 barrels in August when NABEP signed significant agreements with the U.S. Departments of State and War to expand oil production in Venezuela. The first shipment of one million barrels from this agreement made its way to Corpus Christi, Texas, on October 27.

NABEP controls the rights to over 65 billion barrels of proven oil reserves (P1) in Venezuela. Its ambitious goal is to produce over one million barrels of oil per day, with a target of 500,000 barrels per day set for the end of 2028. The company currently employs approximately 5,000 workers and supports 10,000 subcontracted workers throughout Venezuela. In just two years, NABEP has ramped up production from roughly 18,000 barrels a day to more than 200,000, backed by an estimated $1 billion in investments.

About NABEP

North American Blue Energy Partners is an independent oil exploration and production company operating primarily in North and Latin America, with offices located in Caracas, Maracaibo, and Lechería. NABEP is dedicated to responsibly developing energy resources while ensuring the safety of its workforce and the prosperity of the communities in which it operates.