Ginda Energy Group Strengthens Cooperation with Venezuela

Between March 7–9, 2024, Ginda Energy Group engaged in multiple cooperation agreements during a visit to Venezuela:

1. Meeting with National Foreign Investment Center

Executives of Ginda Energy Group met Director Sabo, who plays a pivotal role in foreign investment approvals and sanctions resistance. Director Sabo welcomed Ginda’s entry, praising the company’s technical expertise, social responsibility, and alignment with Venezuela’s development needs. He pledged to recommend Ginda’s projects directly to the President.

Executives of Ginda Energy Group with Director Sabo

2. Framework Agreement with MJL Oilfield Services

Ginda Energy Group signed a long-term cooperation framework with MJL, a Venezuelan oil services company holding contracts with PDVSA for 5,000 well repairs. Due to funding challenges, Ginda will step in to support urgent works on 26 wells, scaling up to 20,000 well repairs over time, with equipment capacities of 350HP, 550HP, and 750HP.

3. Other Engagements

Ginda Energy Group also signed an oil training and education cooperation agreement with the National Industry-Academia-Research Center, and held multiple technical exchanges with PDVSA engineers and project teams.

Vice President Yao Guangwen emphasized that the company’s 60-year development history has always been tied to global peace and shared progress, reinforcing its mission of “Loyalty to the Nation, Integrity to the World.”