About Us: Corporación Venezolana del Petróleo, S.A. (CVP)

Corporación Venezolana del Petróleo, S.A. (CVP) is the strategic business subsidiary of the state-owned energy giant Petróleos de Venezuela, S.A. (PDVSA). Established as the fundamental instrument for state control and the development of hydrocarbon resources, CVP serves as the official representative of the Bolivarian Republic of Venezuela in managing the nation’s most significant energy assets and international alliances.
Our corporation stands as the bedrock upon which global energy partnerships are built, facilitating the flow of investment, specialized expertise, and advanced technology required to develop the world’s largest proven oil and gas reserves.

Our Mission and Vision

Our Mission: To efficiently manage the State’s equity interests within joint ventures, aimed at maximizing hydrocarbon production and ensuring the sustainable socio-economic development of Venezuela. We are dedicated to being a reliable, transparent, and operationally excellent partner for global energy companies.
 
Our Vision: To become a world-leading holding company in the management of complex energy assets, setting global benchmarks in the extraction of extra-heavy crude and offshore gas development, while driving the transition toward a more innovative and responsible global energy landscape.

History and Strategic Role

CVP was revitalized to implement the policy of “Oil Sovereignty.” Since the early 2000s, the company has been the primary legal entity through which the State restructured its oil industry, creating the successful Joint Venture (Empresas Mixtas) model.
 
Today, CVP is far more than an administrative arm; it is an active market participant that:
  • Oversees the State’s participation in over 40 joint ventures.
  • Coordinates strategic operations with partners from Europe, Asia, and the Americas.
  • Ensures strict compliance with the Organic Law on Hydrocarbons to protect national interests while fostering investor confidence.

Core Areas of Operation

1. The Orinoco Oil Belt Stewardship (Faja Petrolífera del Orinoco)

CVP acts as the operational architect for the development of the world’s largest extra-heavy crude reservoir. We oversee projects across four strategic blocks: Boyacá, Junín, Ayacucho, and Carabobo. Our activities here include:

  • Implementing specialized technologies for high-viscosity oil extraction.
  • Managing massive industrial “Upgraders” that transform raw bitumen into high-value export synthetic crudes.
  • Developing the vital industrial infrastructure that supports these vast production regions.

2. Natural Gas Sovereignty and Offshore Frontiers

CVP is aggressively diversifying its portfolio, prioritizing natural gas as a bridge to a cleaner energy future. We manage ambitious offshore projects, such as the “Mariscal Sucre” complex, aiming to position Venezuela as a net gas exporter while supplying domestic industries with clean, affordable energy.

3. Global Logistics and Export Terminals

Through its direct management and interests in joint ventures, CVP controls a critical infrastructure network:

  • World-Class Terminals: Including the Jose Antonio Anzoátegui Complex, capable of handling VLCC tankers.
  • Pipeline Arteries: A vast network of trunklines connecting production blocks to the coast.
  • Strategic Blending: Facilities that create internationally recognized grades, such as Merey 16, ensuring our products meet global refinery specifications.

Engineering Excellence and Innovation

CVP invests in the future of energy. Our engineering focus is centered on Enhanced Oil Recovery (EOR), Digital Oilfield technologies (Smart Fields), and the deep modernization of refining and upgrading assets. We believe that combining Venezuelan field experience with international innovation allows us to solve the most complex challenges of harvesting non-conventional oil.

Social and Environmental Responsibility

For CVP, oil is a catalyst for national development. We integrate social investment into every project, financing infrastructure, education, and healthcare in the communities where we operate.
Environmentally, the company adheres to rigorous international standards. We are actively implementing technologies for associated gas capture, produced water treatment, and land reclamation. We are committed to minimizing our carbon footprint, recognizing our responsibility to future generations.

The Future with CVP

We are looking toward new horizons. Our strategic roadmap through 2030 includes deepening our presence in Asian markets, strengthening ties with OPEC+ partners, and launching high-tech gas initiatives.

Corporación Venezolana del Petróleo, S.A. is the energy that moves a nation and connects Venezuela to the world.