Amos Global Energy’s Strategic Purchase Set to Boost Venezuelan Oil and Gas Production
Carlos Camacho, Argus Media
CARACAS
EnergiesNet.com 02 07 2025
US upstream start-up Amos Global Energy Management has agreed to buy some of Chinese Sinopec’s oil and natural gas interests in Venezuela with an eye on US sanctions eventually easing there, the Houston-based firm said.
Venezuela’s state-owned PdV is the majority owner of the stake to be sold, which is part of the PetroParia joint venture with Sinopec in the Gulf of Paria.
“Sinopec did not develop it better because of clashes with PdV management, but the potential to export gas to Trinidad and Tobago from the property is clear”, Maracaibo-based analyst ChemStrategy said.
Trinidad and Tobago has discussed developing gas fields that straddle its border with Venezuela to stem its downturn in production. But US sanctions on Venezuela’s crude sector have slowed progress, and the administration of President Donald Trump has not indicated that it will change course.
Amos “believes that this purchase will ultimately bring the investments needed to develop oil and gas production opportunities” there and in other nearby properties, including in a previous agreement in the same Gulf of Paria with Inepetrol.
PdV officials and pro-Maduro lawmakers in Caracas said they were aware of the plan but declined to offer additional details. Amos has been seeking capital and arming agreements to be “prepared to increase Venezuelan production when existing sanctions are lifted.”
Amos is led by chief executive Ali Moshiri who retired as president of Chevron Africa and Latin America exploration and production in March 2017.
Completion of the sale will require approval from the US Treasury’s Office of Foreign Assets Control and the Venezuelan hydrocarbons ministry, Amos said.
argusmedia.com 02 05 2025
