Chevron, Shell, bp and UCC to send executives to Venezuela Energy Week 2027

Chevron, Shell, bp and UCC Holding have confirmed senior leaders for Venezuela Energy Week 2027 in Caracas, underscoring the scale of new upstream deals in Venezuela. The February event will focus on offshore gas, heavy oil and digital field management as operators expand ties with PDVSA and the government.

Why it matters: - Venezuela Energy Week 2027 is drawing major global operators back to Caracas as the country pushes new upstream deals and offshore gas development. - The confirmed attendance signals continued investor interest in Venezuela’s oil and gas sector after revised contractual terms and new license awards. - The event comes as Venezuela tries to pair foreign capital with regional energy security and faster project execution.

What happened: - Chevron, Shell, bp and Qatar’s UCC Holding confirmed senior executives for Venezuela Energy Week 2027. - The conference will take place in Caracas on February 22–25, 2027. - Energy Capital & Power is organizing the event under the patronage of Acting President Delcy Rodríguez, PDVSA and the Ministry of Hydrocarbons. - The event registration page is available at www.venezuelaenergyweek.com. - Social updates are available on LinkedIn.

The details: - Chevron confirmed Mariano Vela, Venezuela Country President, and Javier La Rosa, President of Base Assets and Emerging Countries. - Chevron agreed updated terms in September for its three joint ventures with PDVSA. - Chevron plans to invest more than $7 billion over five years. - Chevron says the investment would more than double joint venture output to around 600,000 barrels per day. - The updated agreements added two greenfield areas in the Orinoco Belt to Chevron’s Petroindependencia joint venture. - The company’s April asset swap drew a comment from La Rosa that the move “reinforces our role in supporting regional energy security.” - Shell’s confirmed attendees include Adam Lowmass, Cederic Cremers and Barbara Blakely. - Venezuela awarded Shell the license for the first phase of the offshore Loran field in June. - Shell is developing Loran alongside its Manatee project across the maritime border in Trinidad and Tobago. - Shell is also advancing the Dragon gas field to supply Trinidad’s Atlantic LNG plant. - Shell has signed agreements to develop the Carito and Pirital production units in Monagas state. - bp will send Brian Davis, Katy Henderson-Moses and David Campbell. - bp operates the Loran Phase 2 license awarded in August. - bp is developing the cross-border Cocuina-Manakin field on the Trinidadian side. - bp is a Gold Sponsor of VEW 2027. - UCC Holding’s confirmed executive is Group CEO Erik Keskula. - UCC Oil and Gas holds an equal interest in Loran Phase 2 with bp and XRG, the international investment arm of ADNOC. - Keskula said when the award was announced that “Loran is a material offshore gas resource in a region with established demand and existing regional processing capacity.” - UCC has since said it is in talks to enter further oil and gas areas in Venezuela. - VEW 2027 will include plenary sessions, technical tracks on infrastructure integration and digital field management, and panels on workforce development. - The agenda will also include Youth in Energy sessions for early-career professionals. - The event will close on February 25 with site visits to Venezuela’s upstream and downstream assets.

Between the lines: - The attendance list shows how Venezuela is using conference diplomacy to showcase a pipeline of deals that links Caracas, the Orinoco Belt and offshore gas projects near Trinidad and Tobago. - The mix of operators and state-linked hosts suggests the government is trying to present the sector as open for business while keeping strategic control over project terms. - The focus on technical sessions and site visits suggests organizers want the event to function as both a policy forum and a commercial matchmaking venue.

What's next: - Operators are likely to use the February gathering to discuss execution timelines, partner coordination and the next round of project opportunities. - UCC’s interest in additional Venezuelan oil and gas areas points to possible expansion beyond Loran Phase 2. - The Caracas event will likely be a key venue for gauging how far Venezuela can convert new agreements into sustained production growth.

The bottom line: - Venezuela Energy Week 2027 is shaping up as a high-level test of whether recent oil and gas deals can translate into real investment, output gains and deeper foreign operator engagement.