Company of a Venezuelan Silicon Valley entrepreneur signs contract with Pdvsa for the Budare-Elotes block

FinanceInternationalEl NacionalOct 24, 2026, 7:46 AM45 s readAI summary

Manuel Iribarren, a 28-year-old Venezuelan entrepreneur based in Silicon Valley, co-founded Primavera Infinita, which signed a Productive Participation Contract with Pdvsa on September 2 to develop the Budare-Elotes block, at an event at Miraflores with Delcy Rodríguez and U.S. Energy Secretary Chris Wright. According to Bloomberg, the company was incorporated in 2026 and its partners include Fred Ehrsam, co-founder of Coinbase and Paradigm, and Dheeraj Verma, former president of Quantum Energy Partners. The company aims to produce 100,000 barrels per day in the short term.

In 45 seconds

Primavera Infinita, co-founded by Manuel Iribarren, signed a Productive Participation Contract with Pdvsa on September 2 for the Budare-Elotes block.
Partners identified by Bloomberg include Fred Ehrsam, co-founder of Coinbase and Paradigm, and Dheeraj Verma, former president of Quantum Energy Partners.
The company aims to produce 100,000 barrels per day in the short term, a business target rather than achieved output.

Read the full story at El Nacional

IASummary generated by artificial intelligence from a story by El Nacional. It may contain errors: the original source prevails.

Pdvsa
petróleo
Venezuela
contratos
Silicon Valley

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Company of a Venezuelan Silicon Valley entrepreneur signs contract with Pdvsa for the Budare-Elotes block

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IMF backs economic rescue bill as Banco de la República calls for rigor in its review

Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA

President requests urgent congressional passage of fiscal adjustment bill

Oil edges lower after U.S. bombs Iran ahead of Election Day