BP in Venezuela
Venezuela is a land of great potential. That's why we've been part of exploration activities here for over a decade
What we do
Back in 1994, BP came to Venezuela as part of the government’s strategy to explore and develop the country’s oil reserves.Through an initiative of the Venezuelan government, all exploration and production projects that were operated by privately owned companies under service agreements migrated into incorporated joint ventures (IJV). Petróleos de Venezuela S.A., (PDVSA) the Venezuelan state oil company through a wholly owned affiliate (Corporación Venezolana de Petroleos) holds the majority share in each IJV. Through this initiative, BP Venezuela is a shareholder in two of these IJVs, Petroperijá and Boquerón.
We are also partners in the Petromonagas (formerly Cerro Negro) IJV, a project that produces 110 mbd, with gross reserves estimated to be in excess of 1200 MMBOE.
Our people and partners
We employ around 30 people (BP employees) in our exploration and production projects, mainly in Caracas the country’s capital city.In the Petróleos de Boquerón IJV, besides CVP, our partner is OMV.
Community investment
Working with communities, NGOs and local government, we’ve helped to create a series of sustainable development programmes. Our people often volunteer to help out in person.We have also donated computers to schools, supported scholarship programmes, promoted road safety and supplied dental equipment to surgeries.
