geopark

## A million-dollar bet on Venezuelan oil
The president of GeoPark, Felipe Bayón, surprised by announcing that the company plans to invest about $6.8 billion in Venezuela over the coming years. As he explained, the goal is to reactivate wells and increase production from the current 27,000-28,000 barrels per day to a range of 85,000-95,000 barrels per day by 2030.
The decision is not a coincidence. Bayón said that a technical, operational, regulatory, and legal analysis was carried out of the conditions for operating in the country. And the plan has compelling figures: the company’s EBITDA could rise from around $280 million per year to nearly $1.2 billion.

## GeoPark lands in the Orinoco Belt
In a move that few expected so soon, the Colombian oil company GeoPark confirmed its 'strategic entry' into Venezuela, taking control of Block Bare, one of the largest oil assets in the Orinoco Oil Belt. The deal, signed with PDVSA under a 25-year Productive Participation Contract, includes about 1,100 wells with current production of 11,000 barrels per day, but with potential of up to 95,000.
For the PitbullChain team, this is not just an oil news story: it’s a sign of confidence that could shake the foundations of the Venezuelan economy and, at the same time, the P2P market for cryptocurrencies. When real foreign capital arrives in the country, expectations change—and so do the dollar price, the flow of bolívares, and the demand for USDT.

This Friday, Grupo Gilinski and GeoPark formalized an agreement with PdVSA for the development of the Bare field, in the Orinoco Oil Belt. An agreement that, according to its protagonists, is not just a business deal, but “a declaration of confidence in Venezuela’s future.” For PitbullChain, what matters goes beyond the barrel: it is about a symptom of what is to come in terms of dollar inflows, inflationary pressure, and the behavior of the cryptocurrency and P2P market.
## Why does the Bare field matter?