What major oil fields did Chevron secure rights to develop in Venezuela, and where are they located?

Chevron won the right to develop two giant oil fields—Carabobo 1 and Carabobo-2-South-A—in the Carabobo area of the prolific Orinoco Belt; these fields are located next to Chevron’s existing Petroindependencia joint venture, in which it holds a 49% stake.

What is Eni’s role in the newly announced Venezuelan energy deals?

Eni secured a 25-year contract making it the exclusive operator of the Junin 5 block in Venezuela.

Chevron, Eni Lead Wave of Deals to Boost Venezuela Oil Output

Sep 2, 2026

Chevron and Eni signed major deals with Venezuela to boost crude production, supported by the US government. Investments totaling tens of billions aim to raise output to 600,000 barrels daily by 2031.

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