North American Blue Energy Partners Enhances Operations with Advanced Rigs in Venezuela

NABEP Boosts Operations with New Workover and Drilling Rigs

North American Blue Energy Partners (NABEP) has officially announced the deployment of eleven new 550-horsepower workover rigs in Venezuela. This marks a significant development as it is the first deployment of new mobile repair and maintenance systems in the Venezuelan oil fields in over a decade and a half.

In addition to the new workover rigs, NABEP has also acquired two powerful 1,500-horsepower drilling rigs, which arrived on October 7, intended for more efficient operation within their fields. This influx of equipment is part of NABEP’s strategic efforts to enhance its operational capabilities and production output.

CEO Alejandro Betancourt emphasized the Company's determination to increase oil production in Venezuela. "Each rig we bring into Venezuela is a step closer to meeting our production targets and rejuvenating our nation's economy," he remarked. The company has been successfully expanding its rig fleet and recently purchased a total of 60 rigs, 30 steam boilers, and 70 pieces of heavy machinery, making it the largest operator of heavy equipment in the region.

This strategic equipment acquisition aligns with a broader agreement made between NABEP and the U.S. Departments of State and War in August 2026, which aims to significantly increase Venezuelan oil production. With control over more than 65 billion barrels of P1 oil reserves in the region, NABEP has ambitious plans to invest nearly $100 billion towards enhancing its production capabilities and refurbishing the infrastructure for oil and gas extraction and processing in Venezuela.

NABEP's operations are expanding rapidly, particularly in key districts such as Lake Maracaibo and the Orinoco Belt, with goals set to elevate production to over one million barrels of oil per day. The company's production capacity has already surged from approximately 18,000 barrels per day to over 200,000 barrels in just two years, fueled by about $1 billion in company-funded investments.

With about 5,000 direct employees and an additional 10,000 contractors in Venezuela, NABEP’s growth continues to positively impact the local economy and its workforce.

About North American Blue Energy Partners

NABEP is an independent oil exploration and production company that operates throughout North and Latin America, specifically focusing on large oil reserves in Venezuela. The company is committed to the responsible development of energy resources, prioritizing worker safety and community prosperity while concurrently striving for sustainable growth in the energy sector. For more information about NABEP and its initiatives, visit www.nabep.net.