A licensed, U.S.-led redevelopment of brownfield assets in the Bolivár Coastal Complex, pursued under OFAC General Licenses through Venezuela's CPP framework and held via Alpha Latin America (SPV).
Venezuela holds the world's largest proven reserves, with infrastructure that exists but requires capital and operational expertise. OFAC General Licenses 52 and 56 provide the broadest authorisation for PDVSA engagement in over a decade, and only a small number of U.S. entities are positioned to act.
Brownfield assets concentrated on the eastern shore of Lake Maracaibo, redeveloped through a physics- and engineering-based program, plus a Monagas greenfield.
Licensed U.S. upstream operator: CPP negotiation, field operations and technical leadership, OFAC GL 52/56 compliance, and a U.S.-governed contract structure.
Tier 1 international infrastructure contractor delivering hospitals, airports, energy facilities and power — enabling infrastructure development alongside production.
A major international commodity trading house providing pre-financing and offtake against forward oil sales. [EDIT: name only if cleared for public disclosure.]
Cash-consideration CPP execution is authorised under OFAC General License 52, and negotiation of contingent contracts with the Government of Venezuela is authorised under General License 56. Any oil-for-infrastructure consideration requires a specific OFAC licence, for which an application is being advanced by the consortium's U.S. sanctions counsel. Letters of Intent have been submitted to the President and Executive Vice-President of PDVSA.