<h1>Carabobo-2 Oil Project,Venezuela</h1>
<p>Carabobo-2 Oil Project is an in-development onshore oil project in Venezuela's Orinoco Heavy Oil Belt. It is operated by Petrovictoria and covers the Carabobo-2 North and Carabobo-4 West areas. Ownership is held by Petróleos de Venezuela SA (PDVSA) with 60% and Roszarubezhneft with 40%.</p>
<h2>Quick Facts</h2>
<table>
<tbody>
<tr><th>Item</th><th>Details</th></tr>
<tr><td>Project Name</td><td>Carabobo-2 Oil Project</td></tr>
<tr><td>Country</td><td>Venezuela</td></tr>
<tr><td>Fuel Type</td><td>Oil</td></tr>
<tr><td>Status</td><td>In-development</td></tr>
<tr><td>Status Year</td><td>2020</td></tr>
<tr><td>Operator</td><td>Petrovictoria</td></tr>
<tr><td>Owner(s)</td><td>Petróleos de Venezuela SA (60%); Roszarubezhneft (40%)</td></tr>
<tr><td>Parent Company</td><td>Petróleos de Venezuela SA (60%); Roszarubezhneft (40%)</td></tr>
<tr><td>Final Investment Decision Year</td><td>2020</td></tr>
<tr><td>Onshore/Offshore</td><td>Onshore</td></tr>
<tr><td>Block(s)</td><td>Carabobo-2 North and Carabobo-4 West</td></tr>
</tbody>
</table>
<h2>Location and Operating Area</h2>
<p>The project is located onshore in Venezuela's Orinoco Heavy Oil Belt. It covers the Carabobo-2 North and Carabobo-4 West blocks,with a combined area of 342 km². The Orinoco Belt is one of the world's largest extra-heavy crude provinces.</p>
<h2>Operator and Ownership</h2>
<p>Petrovictoria,a mixed company,operates the project. PDVSA holds a 60% majority interest; Roszarubezhneft holds 40%. The Russian-side interest originally belonged to Rosneft,which in 2020 transferred its Venezuelan assets to Roszarubezhneft,a Russian state-controlled entity,after U.S. sanctions affected Rosneft-linked operations.</p>
<h2>Development History</h2>
<p>The Petrovictoria joint venture was established between 2011 and 2013. Rosneft announced in 2017 that it had started production within the venture. The project-level final investment decision is recorded as 2020,the same year Roszarubezhneft took over Rosneft's Venezuelan holdings.</p>
<h2>Infrastructure and Facilities</h2>
<p>Planned infrastructure includes ground facilities and field pipelines. Detailed current facility data is not publicly available.</p>
<h2>Production and Reserves</h2>
<p>Carabobo-2 is classified as in-development,with no confirmed project-level production start. Rosneft's 2017 announcement reported geological reserves of 33.2 billion barrels for the block area.</p>
<h2>Recent Developments</h2>
<p>In 2020,Rosneft transferred its Venezuelan assets to Roszarubezhneft. Reporting from 2025 and 2026 noted that Roszarubezhneft asserted its Venezuelan assets were legally acquired by the Russian state,and that PDVSA remains under U.S. sanctions. No new production start or full-field start-up has been publicly confirmed.</p>
<h2>Related Topics</h2>
<ul>
<li>Carabobo-2 North</li>
<li>Carabobo-4 West</li>
<li>Petrovictoria</li>
<li>PDVSA mixed companies</li>
<li>Roszarubezhneft Venezuela assets</li>
<li>Rosneft Venezuela asset transfer</li>
<li>Orinoco Heavy Oil Belt</li>
<li>Extra-heavy crude development</li>
<li>Heavy oil upgrading</li>
<li>Venezuela oil sanctions</li>
<li>Russian oil investment in Venezuela</li>
<li>Orinoco Belt field infrastructure</li>
</ul>
<h2>Sources</h2>
<ul>
<li><a href="https://www.gem.wiki/Carabobo-2_Oil_Project_%28Venezuela%29" rel="nofollow noopener" target="_blank">Global Energy Monitor,Carabobo-2 Oil Project (Venezuela)</a></li>
<li><a href="https://www.rosneft.com/press/news/item/186957/" rel="nofollow noopener" target="_blank">Rosneft,Rosneft starts production within the joint venture PetroVictoria</a></li>
<li><a href="https://www.offshore-technology.com/projects/carabobo-oil-project/" rel="nofollow noopener" target="_blank">Offshore Technology,Carabobo Oil Project</a></li>
<li><a href="https://www.bnamericas.com/en/company-profile/petrovictoria-sa-petrovictoria" rel="nofollow noopener" target="_blank">BNamericas,Petrovictoria S.A.</a></li>
<li><a href="https://www.reuters.com/article/business/energy/venezuela-says-russias-rosneft-to-partner-in-carabobo-idUSN1E7961QA/" rel="nofollow noopener" target="_blank">Reuters,Venezuela says Russia’s Rosneft to partner in Carabobo</a></li>
<li><a href="https://www.reuters.com/business/energy/venezuela-approves-15-year-extension-russia-linked-oil-joint-ventures-2025-11-20/" rel="nofollow noopener" target="_blank">Reuters,Venezuela approves 15-year extension of Russia-linked oil joint ventures</a></li>
<li><a href="https://tass.com/economy/2070467" rel="nofollow noopener" target="_blank">TASS,Roszarubezhneft statement on Venezuelan oil assets</a></li>
<li><a href="https://zarubezhneft.ru/en/" rel="nofollow noopener" target="_blank">Zarubezhneft,Company information</a></li>
<li><a href="https://www.eia.gov/international/content/analysis/countries_long/Venezuela/background.htm" rel="nofollow noopener" target="_blank">U.S. Energy Information Administration,Venezuela background</a></li>
<li><a href="https://resourcegovernance.org/publications/national-oil-company-profile-pdsva" rel="nofollow noopener" target="_blank">Natural Resource Governance Institute,National Oil Company Profile: PDVSA</a></li>
<li><a href="https://www.bakerinstitute.org/sites/default/files/2020-02/import/fdi-monaldi-venezuela_uSQ8FHh.pdf" rel="nofollow noopener" target="_blank">Baker Institute,The Collapse of the Venezuelan Oil Industry</a></li>
</ul>

IEPTC reference profile for Carabobo - 2 Oil in Venezuela,covering asset type,location,development status,and upstream industry context.

Carabobo - 2 Oil Project,Venezuela

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Carabobo - 2 Oil Project,Venezuela

Carabobo - 2 Oil Project,Venezuela

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