Reuters: Delta Finance says oil fields operated by Pacific Coast in Venezuela remain in dispute
Energy company DP Delta Finance emphasized that it plans to defend its rights to the oil fields
Oil producer DP Delta Finance said on Wednesday, November 11, 2026, that a group of oil fields currently operated by Pacific Coast Energy Company (PCEC) in Venezuela remain under discussion.
According to Reuters, the oil company also stressed that it intends to defend its rights to those fields.
Recently, the Government of Venezuela and Petróleos de Venezuela S.A. (PDVSA) transferred the oil fields to Pacific Coast Energy Company following negotiations over production-sharing agreements.
In October, Pacific Coast Energy Company said it would make a long-term investment of US$3.5 billion to modernize and develop areas previously operated by PetroDelta, a subsidiary of Delta Finance, and Venezuelan producer Suelopetrol.
Pacific Coast Energy Company also expects crude oil production in those areas to double within 6 months.
For its part, PetroDelta said in a statement that “those oil fields had legitimate titleholders under rights granted transparently through procedures established by the State, including an extension through 2042 issued by the (oil) ministry.”
It stressed that “what is being done is not right,” referring to the transfer of the assets while the dispute remains unresolved.
Suelopetrol has not been notified
Suelopetrol said that PDVSA had not notified it of any changes and stressed that its rights to two oil fields in the Maracaibo Basin remain valid through 2039.
“If the rights to the Tia Juana and Cabimas oil fields had been transferred to Pacific Coast Energy Company, this would have happened without prior notice or compensation, constituting a violation of lawfully acquired rights,” it said in a statement.