Venezuela
Rebuilding critical energy infrastructure.
Established locally. Connected internationally.
AIC began working with Venezuelan stakeholders in 2026, establishing a presence in Caracas and assessing opportunities to mobilize the capital, technology and specialist resources required to rehabilitate the country's ageing petroleum infrastructure and help revitalize associated national industries.
Our initial work included high-level in-country assessments and meetings with industry leadership to develop a direct understanding of existing infrastructure, operating conditions, investment requirements and potential opportunities.
A changing investment environment.
On January 29, 2026, Venezuela's National Assembly approved a major reform of the legislation governing the country's oil industry. The changes expanded opportunities for private-sector participation and introduced a more flexible fiscal and contractual framework, including changes affecting royalties and taxation and provisions intended to strengthen investor protections.
For AIC, this evolving framework provides an important backdrop for mobilizing international capital, technology, equipment and operating expertise into the rehabilitation and development of Venezuela's petroleum infrastructure.
Local partnership. International capability.
To accelerate its activities in Venezuela, AIC reached agreement with an established local operator in July 2026, enabling us to combine international capital, procurement and technical capability with local operating experience, market knowledge and established resources.
Detailed work on Venezuela's petroleum conversion and downstream infrastructure has been underway since February 2026. This work builds on the local operator's historical maintenance knowledge and earlier capacity baselines to develop an increasingly detailed understanding of the country's existing asset base and rehabilitation requirements.
The work is being carried out by experienced Venezuelan petroleum engineers and executives resident in-country, including personnel with extensive senior-level experience within Venezuela's national petroleum industry, working alongside our local partner.
This combines international capital, U.S. technology, Venezuelan expertise and local execution.
The opportunity
Existing infrastructure. Strategic geography.
Venezuela has one of the world’s largest concentrations of petroleum resources. The U.S. Energy Information Administration reported approximately 303 billion barrels of proven crude-oil reserves in 2023, representing roughly 17% of global reserves.
The opportunity extends beyond the resource underground. Decades of investment created a substantial integrated petroleum infrastructure network comprising oilfields, pipelines, refineries, extra-heavy crude upgraders, storage facilities, terminals, marine facilities and supporting industrial infrastructure. Much of this infrastructure remains physically in place.
A strategic Caribbean location.
Venezuela’s Caribbean coastline provides extensive access to international maritime routes, while its proximity to the United States creates the potential for an efficient supply chain connecting Venezuelan projects with U.S. manufacturers, engineering companies, technology providers and logistics hubs.
For AIC, this combination of resource scale, installed infrastructure, geographic proximity and international market access creates a significant long-term infrastructure opportunity.
The challenge
Rehabilitating existing infrastructure.
Decades of investment across Venezuela’s petroleum and downstream industrial infrastructure remain visible in the country’s extensive asset base. However, prolonged constraints on capital investment, maintenance, equipment replacement, specialist resources, training and technical development have contributed to deterioration across parts of the infrastructure.
Restoring productive capacity requires more than funding. It calls for an integrated approach encompassing engineering and technical assessment, OEM equipment and spares, procurement, rehabilitation and construction, operations and maintenance, training and knowledge transfer, marine and land logistics, and long-term capital.
AIC has been structured around this requirement, bringing these capabilities together to support the rehabilitation of existing assets and their long-term operation.
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Let’s discuss the investment, technical and operating requirements.