Max Torres | Founder & Managing Partner, Plata Energy
I’m excited to be speaking at the AAPG Venezuela Technical Symposium and E&P Summit taking place in The Woodlands on May 18-19.
See the program, and register now
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Main Conclusions from AAPG Venezuela Technical Symposium Plata Energy presentation
- Venezuela holds the #1 Proven Oil Reserves globally — 304 Billion Barrels – 18% of Global Reserves
- 197 TCF Proven Gas
- Production fell from 3.2 million bpd (2008) to ~1 million bpd today
- Production was caused by underinvestment & operational failures
- The 2026 Reform reduces Government Take from >90% to ~ 50%–75% projects now viable at $25–40/bbl breakeven
- The new LOH framework formalizes two participation schemes with distinct profiles of control, risk, term and remuneration
