Energy deals in Venezuela could create 324,000 jobs

Acting President Delcy Rodríguez said on Saturday, October 17, that energy agreements with foreign companies will boost economic activity and could generate some 324,000 direct and indirect jobs over the next 10 years, according to Noticiero Digital, which reported the remarks on its Instagram account.

Closing the Energy, Oil and Gas Conference 2026, Rodríguez argued that the impact of the investments will extend beyond the oil industry and reach suppliers and activities linked to the operation of the fields. According to the report, the binational agreement with the United States covers 250 drilling rigs, and each one requires the hiring of 200 workers.

The acting president said the launch of these projects will affect sectors such as metalworking, transport, logistics, food, hospitality, equipment rental, professional services and security. These sectors form part of the supplier network that sustains activity in the hydrocarbons industry.

The International Monetary Fund (IMF) projects real GDP growth in Venezuela of 4.0% for 2026 and 6.0% for 2027, after rates of 4.0% in 2023, 5.3% in 2024 and 1.5% in 2025, according to the multilateral agency's data. The realization and pace of the new jobs will depend on the gradual execution of the investments planned over the next decade.