SPS strengthens the development of oil production capacity in Venezuela

Post-oil Economy Meeting

SPS strengthens the development of oil production capacity in Venezuela


Through the Camimpeg-SPS Alliance, the oil services company Southern Procurement Services (SPS), proposes a new integrated production scheme to raise the revenues of the oil industry.

During the meeting of entrepreneurs for a post-oil economy, leaders of the public and private sectors debated the Venezuelan economic situation and the leading role they represent in national production.

To develop national capacities and maximize the productive value of the industry was the message of the President of PDVSA, Eulogio Del Pino.

Likewise, Del Pino highlighted that they are seeking to consolidate  agreements and alliances that come out of the traditional scheme “partners that bring investment”, emphasizing as an example Camimpeg-SPS, who drive a model of non-conventional financing, placing payment for services directly linked to the incremental production.

“We are replacing a business model and implementing a new scheme never seen before in the Venezuelan oil industry, it is innovative, it changes the paradigms with new financing and production schemes,” said Manuel Chinchilla, CEO of SPS, adding that its priority is to increase hydrocarbon production.

The encounter was attended by 500 public and private entrepreneurs, the heads of the Petroleum and Foreign Trade and Foreign Relations portfolio, Nelson Martínez and Miguel Pérez Abad, respectively.

In the coming days they will carry out more meetings between representatives of the state and businessmen, who are looking to establish and promote an economic armor for the low cycles in the prices of the oil barrel.