The African Energy Chamber this week led a high-level delegation to the Bolivarian Republic of Venezuela from Feb. 22 to 26 aimed at deepening bilateral ties in the oil and gas sector and unlocking investment opportunities.
The working visit, featuring meetings with Venezuelan government officials, national oil company representatives and energy stakeholders, sought to identify concrete upstream and downstream cooperation and potential joint ventures.
AEC executive chairman Nj Ayuk said the mission was intended to advance collaboration to help address energy poverty and secure long-term commercial partnerships between African producers and their Venezuelan counterparts.
Venezuela, an honorary member of the African Petroleum Producers Organization, has maintained ties with African producers and is looking to revitalise its hydrocarbon industry through international investment and technical cooperation.
Delegates discussed expanding trade relations and future energy investments, including structured frameworks for cooperation in oil exploration, production, gas commercialisation and capacity building programmes.
The talks also underscored a broader push for South-South energy alliances, with discussions on technical training exchanges and institutional alignment to strengthen operational expertise across energy markets.
Ayuk said the engagement was a practical step toward transforming diplomatic goodwill into tangible projects that could benefit both regions’ energy sectors and contribute to global energy security.
The visit builds on longstanding cooperation and strategic interest, as Venezuela seeks to attract foreign capital to boost oil output and modernise infrastructure after years of decline.
AEC’s mission reflects growing interest among African energy investors in overseas partnerships that can diversify investment portfolios and open new markets.
Officials said follow-up actions will focus on implementing agreements and exploring specific investment projects that support bilateral energy ties.