Petropiar, S.A. is a Venezuelan joint venture company focused on the exploration, development, production, and upgrading of extra-heavy crude oil in the Orinoco Oil Belt (Faja del Orinoco).
Formed in 2007 after the nationalization of the prior Ameriven project (also known as Petrolera Hamaca), it operates in the Ayacucho area of Anzoátegui state, with recent rights to develop the adjacent Ayacucho 8 block as part of an asset swap with PDVSA.
The company extracts extra-heavy oil from fields such as Huyapari and processes it through an upgrader facility designed for up to 190,000 barrels per day of synthetic crude output, though it has also operated as a blending facility producing Merey-type blends for export.
Ownership is structured with PDVSA (through CVP) holding approximately 70% and Chevron holding 30%. It is one of four key PDVSA-Chevron mixed companies and has been among the highest-producing joint ventures in the Orinoco Belt, contributing significantly to Venezuela's overall crude output.
Headquartered in Caracas with operations in eastern Venezuela, Petropiar supports Chevron's long-standing presence in the country since the 1920s and forms a core part of its Latin American heavy oil portfolio alongside other regional partnerships.
Also known as Ameriven, Petrolera Hamaca, and PDVSA Petropiar.
None yet. When a new project in the record names Petropiar as owner, partner or investor, it shows here.
Updated JV terms and added Orinoco acreage underpin plans to invest $7bn+, more than double output to ~600,000 b/d at under $20/boe over five years.
