Primavera, founded by Coinbase co-founder Fred Ehrsam, plans to enter the Venezuelan oil industry

Coinbase co-founder Fred Ehrsam's startup Primavera plans to enter the Venezuelan oil industry and operate local oil fields, with the goal of producing 100000 barrels of crude oil per day. Primavera has signed a contract with Petr ó leos de Venezuela, S.A. and hired executives from Chevron and Occidental Petroleum to be responsible for infrastructure construction and capacity enhancement (source: Bloomberg).