Gilinski Group signs 25-year PDVSA contract for the Baré oil block
On September 4, interim president Delcy Rodríguez presided in Miraflores over the signing of a hydrocarbons production-sharing contract between PDVSA and Beta Resources, part of the Gilinski Group, to operate the Baré block in the Orinoco Belt for 25 years, Infobae reported.
Jaime Gilinski, GeoPark's main shareholder, said the alliance reflects confidence in the country's oil future and that they are arriving as partners, not cautious observers. That same day, Rodríguez separately met with oil workers to speak about the effort behind the industry.
«We firmly believe in Venezuela. We believe in the recovery capacity of its oil industry, in the talent of its professionals, and in the historic moment that is now opening for the country.»— Jaime Gilinski, September 4, 2026 · watch
«Venezuela's hydrocarbons industry has been forged through sacrifice.»— Delcy Rodríguez, September 4, 2026 · watch