# Colombian Billionaire Jaime Gilinski Set to Take Control of Oil Producer GeoPark in Venezuela Push

> Colombia's richest man, Jaime Gilinski, is investing $107 million to take control of oil and gas producer GeoPark, giving his family's Grupo Gilinski an entry point into Venezuela's recovering oil sector.

- Source: American Post News
- Canonical URL: https://americanpostnews.net/article/colombian-billionaire-jaime-gilinski-set-to-take-control-of-oil-producer-geopark-in-venezuela-push
- Author: staff
- Section: Economy
- Published: 2026-09-16T11:25:41.510Z
- Updated: 2026-09-16T11:25:41.510Z
- Tags: GeoPark, Venezuela, Oil Industry

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Colombia's richest man, Jaime Gilinski, is moving to take control of Latin American oil and gas producer GeoPark Ltd, part of a broader push by his family's Grupo Gilinski to gain a foothold in Venezuela's recovering oil sector. Gilinski and his son Gabriel have agreed to invest $107 million in GeoPark, a deal that will make Grupo Gilinski the company's controlling shareholder.

Under the terms of the agreement, GeoPark will issue 42.1 million new shares at $12.22 apiece to a Grupo Gilinski entity. Once the transaction closes, Grupo Gilinski is expected to hold roughly 56.3% of GeoPark's outstanding shares.

The deal gives GeoPark its entry point into Venezuela through the Bare Block, a heavy oil field in the Orinoco Belt. Grupo Gilinski's standing in Venezuela helped secure a 25 year Production Participation Contract with PDVSA Petroleo S.A., the country's state oil arm. GeoPark will fund all capital spending on the project and hold a 65% working interest.

The Bare field currently produces around 11,000 barrels of oil a day. GeoPark has said gross output could climb as high as 85,000 to 95,000 barrels a day at peak, with net production sustained between 55,000 and 62,000 barrels a day for more than a decade.

Jaime Gilinski is worth an estimated $40.3 billion, according to the Bloomberg Billionaires Index, making him Colombia's richest person. The GeoPark deal is part of a broader wave of investment moving into Venezuela's oil industry since the ouster of Nicolas Maduro, as the Trump administration works to encourage an economic revival in the country.

The effective date of the new contract still depends on regulatory approvals and compliance with sanctions related requirements, a process expected to take up to 120 days.

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Originally published by American Post News. Free to cite with attribution and a link to https://americanpostnews.net/article/colombian-billionaire-jaime-gilinski-set-to-take-control-of-oil-producer-geopark-in-venezuela-push.