Colombian billionaire Jaime Gilinski and Latin American independent oil and gas producer GeoPark are reportedly nearing a significant deal to enter Venezuela's oil sector. This move follows Gilinski's $107 million investment in GeoPark in March 2026, made through his affiliate Colden Investments S.A., which secured him approximately 20% of GeoPark's outstanding shares and made him the largest shareholder. The Gilinski family, led by Jaime and his son Gabriel, envisioned this investment as a strategic vehicle for future entry into Venezuela's recovering oil industry, highlighting GeoPark's established operational footprint in Colombia and growing presence in Argentina.
The investment by Grupo Gilinski was made at $8.31 per share, with GeoPark stating that the capital would be used for accretive M&A opportunities, high-return organic development in Colombia and Argentina, and maintaining balance-sheet strength. GeoPark's CEO, Felipe Bayon, noted that the Gilinskis' experience in building regional platforms and their long-term perspective would support GeoPark's strategic advancements. The agreement also granted Colden approval rights over certain matters as long as they maintain a minimum 15% ownership stake, and an 18-month lock-up period on their shares.
The Gilinski family's interest in Venezuela aligns with the country's evolving conditions, which they believe could position it as a strategic opportunity for GeoPark. GeoPark's regional operating experience and technical capabilities are seen as ideal for evaluating such opportunities responsibly, should market conditions and regulatory frameworks continue to improve. This potential deal also comes amidst broader discussions between the U.S. and Venezuela regarding a major oil field stake, including a possible 100-year lease, as the U.S. aims to boost its oil supplies and exert influence in the region.
