Venezuelan acting President Delcy Rodríguez led the signing of a memorandum of understanding between state-owned Petróleos de Venezuela S.A. (PDVSA) and French-origin TotalEnergies E&P New Ventures, a subsidiary of the energy group TotalEnergies, to strengthen cooperation in the hydrocarbons sector.

The commitment was signed on Saturday by PDVSA President Héctor Obregón and TotalEnergies Senior Vice President for the Americas Francisco Javier Rielo.

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This same week, acting President Rodríguez celebrated the signing of a memorandum of understanding between PDVSA and U.S. company Continental Resources to develop and operate a strategic block in the Orinoco Oil Belt.

La presidenta de la República, @delcyrodriguezv, lideró este sábado la firma de un Memorando de Entendimiento entre Petróleos de Venezuela S. A. (PDVSA) y la empresa multinacional francesa TotalEnergies E&P New Ventures, una filial del grupo energético TotalEnergies. pic.twitter.com/0ZkMHhqweT

— PDVSA (@PDVSA) September 20, 2026

Through her official Telegram channel, the Venezuelan official said the agreement is “aimed at boosting new technical and financial capacities for the development of the Ayacucho 2 Block of the Orinoco Oil Belt.” She highlighted that “with these strategic alliances, we are advancing in strengthening our hydrocarbon production and in generating new opportunities for Venezuela’s economic growth.”

The Ayacucho 2 Block is located in Anzoátegui state, north of the Orinoco River, within the world’s largest crude reserve. It covers a total area of 51,000 hectares and has an estimated in-situ oil resource of 30 billion barrels.

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