Brief
Continental Resources and PDVSA signed a memorandum to operate the Ayacucho 2 block in Venezuela’s Orinoco Oil Belt. The proposed partnership is intended to bring private capital, advanced technology and technical expertise into an area that needs substantial infrastructure spending and exploration studies before production can be revitalized. The announcement establishes a framework for cooperation, but the source provides no investment amount, operating timetable or production target.
The memorandum suggests PDVSA is seeking outside capital and technical capacity to restore output in a resource-rich but investment-intensive area. Its recovery impact will depend on whether the preliminary framework becomes a funded operating project with defined infrastructure commitments and production goals.
Subscribe to this vertical
Oil production, exports, OPEC signals, and energy-linked credit — weekly, with extra editions when news volume warrants.
Oil And Gas · El Nacional - Economía
Sep 17, 2026
Watch for a definitive operating agreement, disclosed capital commitments, a timetable for exploration and infrastructure work, and measurable production targets for Ayacucho 2.