CARACAS, Venezuela, June 15, 2026/APO Group/ –Venezuela Energy Week 2026 has appointed Geoex MCG as its Official Geosciences Partner, in a move designed to strengthen the technical foundation of discussions around the country’s vast hydrocarbon basins as upstream activity and international engagement continue to evolve.

Geoex MCG holds a unique position in Venezuela’s upstream sector as the sole provider of offshore seismic data and the only company operating under a multi-client agreement with the Ministry of Hydrocarbons. Its newly reprocessed offshore datasets are currently available for licensing, with plans underway for new data acquisition from 2026 onward to further support exploration and development activities.

The partnership brings a leading subsurface geoscience and geophysical solutions provider into the core of the event’s technical program at a time when Venezuela is seeking to reframe its upstream narrative around data quality, geological certainty and investable resource definition.

“This partnership underscores the growing role of subsurface science in shaping investment decisions and operational strategy across Venezuela’s upstream sector,” said James Chester, CEO of Energy Capital & Power. “It brings greater geological and geophysical rigor at a pivotal moment for the industry, helping bridge the gap between resource potential and subsurface certainty.”

 

Geoex MCG’s participation is expected to enhance technical discussions on Venezuela’s basin evolution, seismic imaging quality, prospectivity assessment and development of offshore fields. With their newly reprocessed data, exploration in the underexplored frontier areas of the offshore can now be evaluated, as well as improved imaging of existing fields, namely Perla, Rio Caribe/Mejillones/Patao/Dragon and Loran/Cocuina.

 

“Venezuela represents a highly significant subsurface province, where geological potential is well established but increasingly dependent on modern, high-quality data to unlock value,” said Robert Sorley, President, Geoex MCG LLC. “Supported by our exclusive multi-client agreement with the Ministry of Hydrocarbons, a growing portfolio of datasets reprocessed in partnership with DUG Technology, and plans for new acquisition, our focus is to enable international explorers to evaluate offshore opportunities with confidence. We are pleased to support Venezuela Energy Week 2026 by strengthening the technical dialogue and bringing greater subsurface clarity to investment and development discussions.”

 

Geoex MCG specializes in the design and delivery of geoscientific surveys, subsurface data acquisition, seismic reprocessing and project management services, supporting exploration and development activities across oil and gas, CCUS, natural hydrogen and other energy sectors. Through its asset-light business model, the company works with selected contractors to deliver tailored subsurface solutions aligned with clients’ technical and commercial objectives.

 

As Venezuela seeks to attract renewed international investment, Venezuela Energy Week is positioning itself as a leading technical and commercial platform where geology, data and capital converge, supporting dialogue on investment frameworks, upstream development and the long-term future of one of the world’s largest hydrocarbon resource bases.

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) will host the 20th IsDB Global Forum on Islamic Finance in Baku, Azerbaijan on 17 June 2026 under the theme “Achieving Sustainable Prosperity through Islamic Finance,” in conjunction with the IsDB Group Annual Meetings.

 

Marking its 20th edition, the forum serves as a flagship platform for high-level dialogue, convening policymakers, regulators, development practitioners, academics, and industry leaders to advance innovation and development in Islamic finance. This year’s forum will focus on strengthening regional integration and unlocking sustainable growth across IsDB member countries through Islamic finance solutions.

The forum will examine how Islamic finance can help address structural development challenges, including “development traps” that constrain inclusive growth and resilience. It will also highlight innovative Islamic social finance mechanisms, particularly Awqaf Free Zones, as tools for mobilizing sustainable resources to support food and energy security.

Key highlights of the forum include keynote speeches, launch of a new report on the prospects of Islamic Finance in Azerbaijan alongside other flagship publications, announcement of a memorandum of understanding between IsDBI and Labuan Financial Services Authority, distinguished panel discussion sessions, and unveiling of top achievers in the Applied AI in Islamic Finance Competency Challenge.

H.E. Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, will deliver the first keynote speech, followed by Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, whose speech will be on behalf of the IsDB Group. Dr. Sami Al-Suwailem, Acting Director General of IsDBI, will deliver the welcome remarks.

The first panel session will explore how Islamic finance can help countries overcome development barriers and achieve sustainable economic transformation. The panelists include Mr. Shahin Aydin Mahmudzade, Executive Director, Central Bank of Azerbaijan; Mr. Adnan Zaylani, Deputy Governor, Bank Negara Malaysia; Ms. Mihoko Kumamoto, Director, Division for Prosperity, UNITAR; Dr. Bambang Brodjonegoro, Dean, Asian Development Bank Institute; and Dr. Areef Suleman, Chief Economist, IsDB Group. The session will be moderated by Mr. Mustafa Adil, Head of Islamic Finance, London Stock Exchange Group.

The second panel session will examine innovative approaches to mobilizing Islamic social finance, particularly through Awqaf Free Zones, to address global food and energy challenges. The speakers include Mr. Valeh Alasgarov, Chairman of the Board, AFEZ Authority, Azerbaijan; Dr. Mansur Muhtar, Chairman of the Board, Bank of Industry, Nigeria; Professor Emeritus Dato’ Dr. Azmi Omar, President & CEO, INCEIF University; and Mr. Orkhan Vidadi oglu Mammadov, Chairman, Small and Medium Business Development Agency of Azerbaijan (KOBİA). The session will be moderated by Mr. Yahya Rehman, Associate Manager, IsDBI.

The forum is expected to generate actionable recommendations, strengthen partnerships, promote stakeholder collaboration, and advance innovative, AI-enabled tools to support the growth of Islamic finance globally.

More information about the forum is available on IsDBI website here.