Brief
PDVSA president Héctor Obregón said the state oil company awarded 17 oil fields to North American Blue Energy Partners, or NABEP, without a public tender. The disclosure places the selection process for a substantial package of upstream assets under scrutiny. The provided excerpt does not state Obregón’s justification for bypassing competitive bidding or disclose the award’s contractual, operational or financial terms.
Awarding 17 fields without open bidding raises specific questions about how PDVSA selects partners and establishes commercial terms. The answers will influence whether prospective investors view Venezuela’s upstream openings as transparent, predictable and capable of supporting enforceable long-term commitments.
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Oil And Gas · Finanzas Digital
Sep 8, 2026
Watch for PDVSA or NABEP to publish the award’s legal basis, contract structure, fiscal terms and investment obligations, along with a detailed explanation of why no competitive tender was held.