According to CoinMeta, Coinbase, co-founder with Fred Ehrsam, and their startup company Primavera are planning to enter the Venezuelan oil industry and take over the operation of several local oil fields, with the goal of achieving a daily production of 100,000 barrels of crude oil in the short term. Primavera has recently signed multiple contracts with Venezuela's state-owned oil company Petr along with leos, de, Venezuela, and S.A. They have also hired industry executives from Chevron and Occidental Petroleum to be responsible for building infrastructure and increasing the production capacity of traditional oil and heavy oil. Ehrsam is also one of the founders of the crypto investment firm Paradigm and currently has a personal net worth of about $2.4 billion. In addition to Ehrsam, Primavera's investment team also includes Iribarren and former Quantum Energy Partners executive Dheeraj Verma.