Coinbase Co-founder Fred Ehrsam Establishes Primavera to Take Over Venezuelan Oil Fields

Coinbase co-founder Fred Ehrsam is personally investing in Venezuela's oil industry, calling it an "extraordinary opportunity." Ehrsam's startup, Primavera, has signed multiple contracts with the state-owned oil company PDVSA to prepare for the takeover of several oil fields' operations. Primavera has hired senior personnel from Chevron and Occidental Petroleum to assist in building infrastructure and supporting the production of conventional oil and heavy crude.

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