Venezuela - Crude Oil
In 2018, SEG worked hand-in-hand with Maurel et Prom—a publicly traded, French-based exploration and production company part of Pertamina Group—to successfully acquire a 40% stake, previously owned by Royal Dutch Shell, in an O&G joint-venture called “Petroregional del Lago” located off-shore on the Urdaneta West field on Maracaibo Lake. The field has one of the largest reserves in Western Venezuela, with proven reserves upwards of 1,200 million barrels. With our advisory, we successfully designed a business plan for a period of 7 years with a potential 15 year extension that will be financed with a credit facility. This transaction was considered one of the top three private equity M&A’s of the year by Latin Lawyer magazine.
Venezuela - Natural Gas
In 2021, Sucre closed the acquisition of INPEX Corporation's stake in Gas Guarico, S.A. - a non-associated gas license operating the Copa Macoya field. This field has an exploration potential of 3 TCF with a license to exploit gas until 2027, with a potential 15 year extension.
In 2022, Sucre closed the acquisition of TotalEnergies' stake in the Yucal Placer North and South license and its equity stake in the field's operator YPergas, S.A. This is the only onshore 100% private gas company operating in Venezuela with a license to exploit natural gas until 2036. This field has 12 TCF of proven reserves.