<h1>Boyaca Area Oil and Gas Project,Venezuela</h1><p>The Boyaca Area Oil and Gas Project is an onshore oil and gas project in Venezuela,associated with the Boyacá area of the Orinoco Oil Belt. Project-level information is limited. The project is best understood as an area-level reference to the Boyacá segment of the Orinoco heavy-oil region rather than as a single fully documented field. No current operator,owner,development status,production type,discovery year,final investment decision year,or production start year are clearly identified for the project itself. The wider Boyacá area has historically been part of Venezuela’s Orinoco Belt,where heavy and extra-heavy crude development has been led by the state oil company and selected partners.</p><h2>Quick Facts</h2><table><tbody><tr><th>Item</th><th>Details</th></tr><tr><td>Project Name</td><td>Boyaca Area Oil and Gas Project</td></tr><tr><td>Country</td><td>Venezuela</td></tr><tr><td>Fuel Type</td><td>Oil and gas</td></tr><tr><td>Onshore/Offshore</td><td>Onshore</td></tr></tbody></table><h2>Location</h2><p>The project is onshore in central Venezuela,within the Boyacá area of the Orinoco Oil Belt. The Orinoco Oil Belt (Faja Petrolífera del Orinoco) is the country’s principal extra-heavy oil province,divided into the Boyacá,Junín,Ayacucho,and Carabobo areas. Boyacá was formerly known as Machete. The belt lies along the southern margin of the eastern Orinoco River basin across parts of Guárico,Anzoátegui,Monagas,and Delta Amacuro states. The project area is within the East Venezuela Basin Province as described by the U.S. Geological Survey.</p><h2>Operator and Ownership</h2><p>The current operator and ownership structure for the Boyaca Area Oil and Gas Project are not confirmed in project-specific sources. The Orinoco Oil Belt as a whole has been dominated by Petróleos de Venezuela (PDVSA),with joint ventures involving foreign partners such as Chevron,Eni,Repsol,CNPC,and Rosneft-linked entities in various blocks. Recent Reuters reporting (2026) noted renewed foreign-company negotiations in the Orinoco Belt,but these do not specifically confirm involvement in the Boyaca project.</p><h2>Development History</h2><p>No project-level discovery year,final investment decision,production start,or development milestones are clearly documented. Global Energy Monitor’s related Boyaca area page lists the area as operating and gives a discovery year of 1985 for the area-level unit,but the project page itself provides limited details. The Boyacá area is part of a larger regional framework; older documents may refer to it as Machete. Development history for the broader Orinoco Belt includes early heavy-oil exploration and later large-scale certification and production plans.</p><h2>Infrastructure</h2><p>No project-specific wells,processing facilities,pipelines,upgraders,or export routes are confirmed for the Boyaca Area Oil and Gas Project. Orinoco Belt heavy-oil developments typically require extensive infrastructure for drilling,artificial lift,heated or diluted crude handling,and upgrading,but these are general requirements and not confirmed for this project.</p><h2>Production and Reserves</h2><p>Project-level production and reserves figures are not available. The U.S. Geological Survey estimated a mean 513 billion barrels of technically recoverable heavy oil for the entire Orinoco Oil Belt Assessment Unit. This estimate applies to the belt as a whole and cannot be allocated to the Boyaca project without area-specific data.</p><h2>Recent Developments</h2><p>Project-specific updates are limited. In 2026,Reuters reported that Chevron signed agreements to expand its Orinoco Belt operations (including increasing its stake in Petroindependencia and obtaining Ayacucho 8) and that Eni signed an agreement to relaunch a heavy crude oil project in the Orinoco Belt. Reuters also reported that Venezuela resumed exports of diluted crude oil in 2026 after a 15-month pause. These are sector-level developments and do not directly confirm activity at Boyaca.</p><h2>Sources</h2><ul><li><a href="https://www.gem.wiki/Boyaca_%28area%29_Oil_and_Gas_Project_%28Venezuela%29" rel="nofollow noopener" target="_blank">Global Energy Monitor,Boyaca (area) Oil and Gas Project (Venezuela)</a></li><li><a href="https://www.gem.wiki/Boyaca_%28Area%29_Oil_and_Gas_Area_%28Venezuela%29" rel="nofollow noopener" target="_blank">Global Energy Monitor,Boyaca (Area) Oil and Gas Area (Venezuela)</a></li><li><a href="https://pubs.usgs.gov/publication/fs20093028" rel="nofollow noopener" target="_blank">U.S. Geological Survey,An Estimate of Recoverable Heavy Oil Resources of the Orinoco Oil Belt,Venezuela</a></li><li><a href="https://www.eia.gov/international/analysis/country/VEN" rel="nofollow noopener" target="_blank">U.S. Energy Information Administration,Venezuela Country Analysis</a></li><li><a href="https://www.boell.de/sites/default/files/uploads/2012/10/venezuela-orinoco.pdf" rel="nofollow noopener" target="_blank">Heinrich Böll Stiftung,The Orinoco Oil Belt Update</a></li><li><a href="https://www.reuters.com/business/energy/chevron-shell-sign-agreements-oil-gas-areas-venezuela-sources-say-2026-04-13/" rel="nofollow noopener" target="_blank">Reuters,Chevron agrees to asset swap in Venezuela to focus on heavy oil projects</a></li><li><a href="https://www.reuters.com/business/energy/eni-signs-agreement-relaunch-heavy-oil-project-venezuela-2026-04-28/" rel="nofollow noopener" target="_blank">Reuters,Eni signs agreement to relaunch heavy oil project in Venezuela</a></li><li><a href="https://www.reuters.com/business/energy/venezuela-resumes-exports-diluted-crude-oil-after-15-month-pause-document-2026-03-06/" rel="nofollow noopener" target="_blank">Reuters,Venezuela resumes exports of diluted crude oil after 15-month pause</a></li><li><a href="https://dialogue.earth/en/energy/59034-orinoco-belt-venezuela-oil-investment-in-biodiverse-region/" rel="nofollow noopener" target="_blank">Dialogue Earth,Orinoco Belt: Venezuela waiting on oil investment in biodiverse region</a></li></ul><h2>Related Topics</h2><ul><li>Boyacá area</li><li>Orinoco Oil Belt</li><li>Faja Petrolífera del Orinoco</li><li>Venezuela heavy oil</li><li>Extra-heavy crude production</li><li>PDVSA</li><li>East Venezuela Basin Province</li><li>Orinoco Belt assessment unit</li><li>Diluted crude oil</li><li>Heavy-oil upgrading</li><li>Venezuela upstream sanctions and investment risk</li></ul>

IEPTC reference profile for Boyaca Area Oil and Gas in Venezuela,covering asset type,location,development status,and upstream industry context.

Boyaca Area Oil and Gas Project,Venezuela

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Boyaca Area Oil and Gas Project,Venezuela

Boyaca Area Oil and Gas Project,Venezuela

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