GeoPark Secures 25-Year Production Contract in Venezuela and Gains Gilinski as Controlling Shareholder
GeoPark has entered into a 25-year production participation contract with Venezuela's state-owned oil company, PDVSA, to operate the Bare Block. This agreement marks a significant long-term commitment for the company within the Venezuelan energy sector. Simultaneously, a major shift in corporate governance occurred as Colombian conglomerate Grupo Gilinski became GeoPark's controlling shareholder. This transition follows the issuance of over 42 million new shares to the group, restructuring the company's ownership hierarchy.
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