NABEP Enhances Operations with New Drilling and Workover Rigs in Venezuela

North American Blue Energy Partners (NABEP) Strengthens Operations in Venezuela

In a significant boost to its operations, North American Blue Energy Partners (NABEP) has announced the deployment of eleven new 550-horsepower workover rigs in Venezuela. This marks a pivotal moment as it is the first introduction of new mobile repair and maintenance systems in the Venezuelan oilfields in over 15 years. The company is also expanding its fleet with the arrival of two new 1,500-horsepower drilling rigs and additional equipment is anticipated shortly.

NABEP's move is a clear indication of its relentless commitment to enhancing its operational capabilities and oil production in the region. As part of its growth strategy, the company has already acquired an extensive fleet that includes 60 drilling rigs, 30 steam generators, and 70 heavy machinery units, consolidating its status as the largest operator of heavy equipment in Venezuela.

"NABEP is making serious and steady progress in increasing oil production. Each drilling rig that arrives in Venezuela brings us closer to achieving our production targets and reviving our country’s economy," stated NABEP CEO Alejandro Betancourt. He emphasized the importance of the partnership with the U.S. government in overcoming the challenges ahead, expressing optimism for continued progress in the months to come.

The recent acquisition of new equipment follows an agreement made in August 2026 between NABEP, the U.S. Department of State, and the U.S. Department of Defense aimed at significantly increasing oil production in Venezuela. NABEP currently holds the marketing rights to over 65 billion barrels of P1 oil reserves in the country and plans to invest nearly $100 billion to enhance production capacity and improve oil and gas infrastructure.

NABEP is rapidly expanding its operations in the Lake Maracaibo region and the Orinoco Belt. With a short-term goal to boost production to more than 1 million barrels of oil per day, the company has already increased its average output from around 18,000 barrels per day to over 200,000 barrels per day within two years, fueled by approximately $1 billion in proprietary investments.

Currently, NABEP employs 5,000 workers and supports an additional 10,000 contract workers in Venezuela, demonstrating its significant impact on the local economy. As an independent oil exploration and production company, NABEP is dedicated to the responsible development of energy resources, the safety of its employees, and the prosperity of the communities in which it operates.

As NABEP continues to invest and improve its drilling and workover technology, stakeholders are keeping a close eye on its progress, hoping for a substantial uplift in Venezuela's oil production capabilities. For more information about NABEP’s initiatives and operations, visit www.nabep.net.