NABEP adds drilling and workover rigs for Venezuela production push

North American Blue Energy Partners (NABEP) began deploying 11 new 550-hp workover rigs in Venezuela, the first new mobile repair and maintenance rigs to operate in the country’s oil fields in more than 15 years, according to the company. Two new 1,500-hp drilling rigs arrived on 7 October, and more equipment is due soon.

Separately, NABEP purchased 60 rigs, 30 steam boilers and 70 pieces of heavy machinery, which it says gives it the largest heavy-equipment fleet in Venezuela. The purchases follow an August 2026 agreement between NABEP and the US Departments of State and War to expand oil production in the country.

NABEP is growing its operations in Lake Maracaibo and the Orinoco Belt, with a near-term goal of raising output to more than 1 million barrels of oil per day (bopd). The company says production climbed from about 18,000 bopd to more than 200,000 bopd over two years.