By Juan Carlos Sosa Azpúrua

Vision: To restore Venezuela as a global energy leader by leveraging the petroleum industry as a primary economic engine, targeting a production capacity of 11 MMbpd.

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I. The Investment Framework

The revitalization of the industry requires a tiered capital expenditure (CAPEX) strategy to reach historical and aspirational production targets:

• Phase 1 (Immediate Recovery): $100B investment to stabilize infrastructure and increase production by 1 MMbpd.
• Phase 2 (Long-term Expansion): $1T cumulative investment to achieve a 10 MMbpd increase, positioning total output at 11 MMbpd.
• The «Locomotive» Principle: Economic data suggests a high multiplier effect where every $1 invested in the oil sector generates $2 in the non-oil economy, stimulating growth in manufacturing, services, and local infrastructure.

II. Strategic Requirements for Growth

To unlock the necessary capital and technical expertise, three critical pillars must be addressed simultaneously:

1. Sanctions Relief: The immediate removal of international sanctions is essential to allow for the legal export of crude, the import of diluents/machinery, and access to global financial markets.
2. US-Led Investment: Actively promoting and protecting aggressive investments from US-based and US-related transnational corporations to bring in state-of-the-art technology and operational efficiency.
3. Institutional Stability: Establishing a secure environment for investment through the liberation of all political prisoners and the restoration of a predictable legal and political framework.

III. Economic Impact

By focusing on these priorities, Venezuela can transform its energy wealth into a sustainable, diversified economy. The petroleum sector will not only provide direct revenue but will serve as the foundation for a broader national «renaissance,» driving development across all sectors of society.