Venezuela will use African Energy Week (AEW) 2026 in Cape Town to strengthen energy ties with African producers and present investment opportunities across its oil and gas sector.
The Venezuela Global Investment Forum, taking place during AEW from October 12 to 16, will connect Venezuelan officials, energy companies and investors to explore cooperation in oil production, natural gas, refining and energy infrastructure.
The initiative builds on a memorandum of understanding signed in February 2026 by the African Energy Chamber (AEC), Venezuela’s Ministry of People’s Power for Hydrocarbons and state-owned oil company Petróleos de Venezuela (PDVSA). The agreement established a framework for cooperation in investment, technical expertise, workforce development and energy trade.
Priority areas include rehabilitating mature oil fields, modernizing refineries, developing gas resources and expanding commercial links between Africa and Venezuela. The framework also identifies potential opportunities for African companies to participate in Venezuelan projects through joint ventures and production participation agreements.
Building cross-continental energy partnerships
Venezuela holds approximately 300 billion barrels of proven oil reserves, offering significant resource potential alongside investment needs in production, infrastructure and technology. For African operators and service providers, engagement could open avenues for technical cooperation, project development and new energy trade links.
The partnership also envisages professional training and technical exchanges, with potential cooperation extending to products such as liquefied petroleum gas (LPG) and bitumen.
By bringing Venezuelan decision-makers together with African governments, national oil companies, investors and service providers, AEW 2026 will provide a platform to discuss projects and explore practical avenues for cross-continental cooperation.
The event will take place in Cape Town, South Africa, from October 12 to 16, 2026.
