Nabep boosts Venezuela oil output to 223k bpd, plans 60 rigs in 36 months

Nabep, a private operator in Venezuela, reports production of ~223,000 bpd across Lake Maracaibo and the Orinoco Belt, up from 18,000 bpd at end-2023. President Alejandro Betancourt says 11 of 17 licensed sites are operational, with plans to reach 60 drilling rigs within 36 months. The Washington Post's visit lends credibility, but figures are company-reported and unverified; the scale-up signals a potential shift in Venezuela's oil sector under current sanctions framework.

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