About Us

NABEP: Venezuelan-built. Venezuelan crews.

North American Blue Energy Partners (NABEP) is a privately held oil producer with a minority stake owned by the U.S. Government. Founded in 2024, we have been working in Venezuela's two great basins, Lake Maracaibo and the Orinoco Belt, to bring declining fields back into production and develop new ones.

Contact What we do

Our story

How we got here

Field workers in hard hats and life vests talking on an offshore platform at sunset

2024

NABEP is founded

NABEP is founded to operate the Petrozamora fields on Lake Maracaibo, then producing about 18,000 barrels per day. Also granted Junín Sur and Petrocedeño fields.

2024–26

Production grows tenfold

About $1 billion of our investment increases production to about 200,000 barrels a day across the three fields.

2026

GP-28 back on the lake

The rebuilt GP-28 drilling barge returns to work on the lake.

Aug 2026

Partnership with the U.S. Government

NABEP and the U.S. Government announce a partnership.

A million barrels a day

Partnership

Partnership with United States government

On August 31, 2026, the U.S. Departments of State and War announced an agreement with NABEP to expand oil production in Venezuela.
Here is what it means:

NABEP

Continues to operate the fields and controls the rights to develop more than 65 billion barrels of proven (P1) oil reserves.
Leads nearly $100 billion of investment in production and infrastructure.
Buys most of its oilfield equipment from U.S. suppliers.

The United States

Holds rights to a 35% stake in NABEP's parent company.
After PDVSA receives its share, may buy 20% of production at cost with a right of first refusal on the rest at the market price.

Dockside crew handling equipment beside a cargo ship

Venezuela

Receives a portion of the extracted oil, royalties and taxes projected at more than $209 billion for the first 25 years.

Built-in accountability

The agreement sets out how NABEP is governed.

The U.S. Government must approve all board appointments.
A majority of directors must be U.S. citizens.
NABEP uses U.S. auditors, lawyers and advisors