NABEP Deploys 11 Workover Rigs, Targets 1M Barrels Daily in Venezuela
Caracas – October 13, 2026 -- North American Blue Energy Partners (NABEP) is deploying eleven new 550-horsepower workover rigs in Venezuelan oil fields, the first new mobile repair-and-maintenance systems to operate there in more than 15 years.
Two new 1,500-horsepower drilling rigs arrived on October 7, and the company expects more equipment soon. Separately, NABEP has bought 60 rigs, 30 steam boilers and 70 pieces of heavy machinery. The company says this gives it the largest heavy-equipment fleet in the country.
NABEP targets production above 1 million barrels per day
The company's near-term goal is to lift output to more than 1 million barrels of oil per day. NABEP says it has already scaled production from roughly 18,000 barrels per day to more than 200,000 in two years. It attributes the increase to about $1 billion in company-funded investment.
NABEP is expanding operations in Lake Maracaibo and the Orinoco Belt.