What would a Venezuela oil project look like?

Introduction

For the last 4 years, we have seen the world of energy going from globalization to an era of political energy. More and more the energy map is merging with the political map.
And 2026 started in the same direction with the “kidnapping” of Venezuela president by the USA.

Beyond the political aspect, it rose many questions regarding its impacted on oil projects, given the giant reserves hold by Venezuela.

Venezuela Extra-Heavy crude oil

Extra-heavy crude is the type of oil that makes up the majority of Venezuela’s reserves. It is so viscous that if you pour it into a container and turn it upside down, it won’t flow out. In its natural state, Extra-Heavy crude oil cannot be transported.

Most of Venezuela 300 billion barrels of oil reserves are located in what is called the “Orinoco Belt”, the largest concentration of oil on the planet. Putting Venezuela in front of Saudi Arabia in term of pure reserves of oil.

How to produce oil in Venezuela ?

To produce this kind of oil, the only technology possible is using Progressive Cavity Pumps (PCP). PCPs are screw-type pumps that resemble helical screw compressors but operate at much lower speeds. Their role is to gently lift the oil from the reservoir to the surface.

The main challenge is continuously controlling the rotation speed of these pumps. If the speed is too high, it can create overpressure in the reservoir, potentially causing the well to collapse and allowing oil to mix with surrounding sand. When that happens, the well is permanently lost.

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