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Venezuela’s vast oil reserves

Media Tip Sheet

January 07, 2026

Erich Kirshner

Media Relations Specialist

erich.kirshner@mines.edu

303-273-3188

Venezuela holds the world's largest proven oil reserves, estimated at over 300 billion barrels, representing about 17 percent of global supply.

Colorado School of Mines has several experts on this topic, both within our Petroleum Engineering Department and Payne Institute for Public Policy. The following experts stand ready to answer journalist questions about Venezuela’s petroleum reserves and their economic and geopolitical implications.

Our Experts

Luis Zerpa, Harry D. Campbell Endowed Chair in Petroleum Engineering, associate department head, associate professor, and director of The Center for Rock and Fluid Multiphysics

Before joining Mines, Zerpa was an assistant professor at the University of Zulia, Venezuela. He has consulting experience leading the reservoir simulation studies of an industrial offshore chemical Enhanced Oil Recovery (EOR) pilot project developed by the Venezuelan National Oil Company (PDVSA). Zerpa discussed recent events in Venezuela during this interview with Scientific American.

Jennifer Miskimins

Jennifer Miskimins, F.H Mick Merelli/Coterra Energy Distinguished Department Head Chair, director of Fracturing, Acidizing, Stimulation Technology (FAST) and professor, petroleum engineering

Miskimins is the current president of the Society of Petroleum Engineers providing her significant insight into the worldwide energy industry.  She has over 35 years of experience in the petroleum industry, starting with Marathon Oil Company where she was a production/completions engineer and production foreman.

Morgan Bazillian

Morgan Bazilian, Director of the Payne Institute for Public Policy

Bazilian is a former lead energy specialist at the World Bank. He has over two decades of experience in the energy sector and is regarded as a leading expert in international affairs, policy, and investment. He is a member of the Council on Foreign Relations and recently co-authored Maduro’s Capture Won’t Disrupt Global Oil Markets in The National Interest.

Guggenheim

About Mines

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