Venezuela signed a contract with a U.S. company for the development of its oil industry

The Venezuelan regime signed a contract with the American company Hunt Oil to develop the oil and gas fields Caro and Carisito, located in the east of the country. The agreement establishes a model of productive participation aimed at recovering and increasing production in both areas as part of the economic recovery plan promoted by the Trump administration.

The Minister of Hydrocarbons, Paula Henao, reported on the agreement during an official visit to the United States. The official highlighted Hunt Oil's experience and noted that the company's main objective will be to recover production from the fields and contribute to their development.

The contract represents a new step in the strategy of the regime of Delcy Rodríguez to attract foreign capital and technology to the Venezuelan energy sector. The oil industry is the main source of income for the country, and authorities are seeking to increase production through agreements with international private companies.

Caro and Carisito are among the areas that require investments to recover their productive capacity. Hunt Oil's participation will allow for the incorporation of capital, technology, and technical expertise.

The agreement also comes at a time of increasing rapprochement between Venezuela and American companies thanks to the government of Donald Trump. In recent months, various international companies have begun to evaluate new opportunities in the Venezuelan energy sector.

Hunt Oil will not be the only American company involved in this new phase. The Venezuelan regime also announced a partnership with SLB, formerly known as Schlumberger, to conduct an integrated reservoir study in the country.

The opening of the energy sector is part of a broader transformation of Venezuelan economic policy. In parallel, the regime has made progress in agreements with international companies to recover energy infrastructure and increase hydrocarbon production.

The context is also significant because Venezuela recorded a 7.14% growth in its economy during the second quarter of 2026, primarily driven by the recovery of oil activity promoted by the Trump administration.

The contract with Hunt Oil aims, precisely, to deepen that recovery. For Caracas, increasing production would allow for higher revenues from hydrocarbons and strengthen an economy that still faces significant structural problems.

The agreement between Venezuela and Hunt Oil thus reflects a greater presence of American capital in the Venezuelan oil industry, with the goal of recovering existing fields and progressively increasing crude oil and gas production.