Denarius Holding Group, Inc. is a Florida corporation incorporated in September 2017 and recapitalized in April 2026 by its Turkish shareholders, led by ÇAN2 Termik A.Ş. (BIST: CANTE). It is the legal and financial vehicle through which the ODAŞ Group participates in upstream oil and gas development in the Bolivarian Republic of Venezuela.
DHG's mandate is straightforward: to develop upstream oil and gas assets in Venezuela on behalf of its Turkish shareholders. The Group's economic interest in the Petrokariña field portfolio in Anzoátegui State is held through DHG's wholly-owned Venezuelan subsidiary Minerosol Group C.A., which has executed the Contrato de Participación para la Producción de Hidrocarburos with PDVSA. DHG contracts with international operators and service providers, and coordinates the technical, commercial, and financing arrangements required to deliver a multi-decade field development programme.
The company is capitalized by its Turkish shareholders and reports consolidated results through ÇAN2 Termik A.Ş. under the disclosure regime of the Capital Markets Board of Türkiye and the Public Disclosure Platform (KAP). It is registered in the State of Florida and operates within the framework of applicable U.S. sanctions authorizations.
Denarius Pumping Services LLC (Florida) and its Venezuelan operating company Denarius Pumping Services de Venezuela, C.A. are sister companies under common ÇAN2 Termik ownership. They are separate legal entities from DHG and operate independently as authorized specialized service providers in the Venezuelan upstream sector, available to support the Group's field development programme on arm's-length commercial terms.
Mission
To generate strategic value in the hydrocarbons sector through innovation and operational excellence, acting under principles of transparency and a deep sense of social and environmental responsibility that drive the sustainable progress of the communities and environments where we operate.
Vision
To be recognised as a leader in the regional and global energy market, distinguished by a management model built on operational excellence and an unwavering ethical commitment across all lines of business.
| Year | Event | Note |
|---|---|---|
| 1996 | Venezuelan well-services operations commence | Founding of the specialized oilfield services business later operating as DPSV, C.A. |
| 28 Sep 2017 | Denarius Holding Group, Inc. incorporated in Florida | Florida Document No. P17000078567 · EIN 82-2935056 |
| 2024 | ÇAN2 Termik A.Ş. acquires majority stake in Denarius Pumping Services LLC | ODAŞ Group establishes Venezuelan platform through a 29-year well-services business |
| 20 Apr 2026 | ÇAN2 Termik A.Ş. completes recapitalization of Denarius Holding Group | 100% of DHG acquired by ÇAN2 Termik and co-shareholder to advance upstream field development · Certificates #06, #09, #03 issued |
| Jul 2026 | Petrokariña CPPH executive communication and technical annex submitted | Submitted to the Ministry of Popular Power for Petroleum, PDVSA, and PPSA on 29 July 2026 |
| 5 Aug 2026 | Announcement of long-term investment in the Petrokariña Oil Field | Public announcement of the Group's upstream development programme in Anzoátegui State |
The ODAŞ Group is a diversified Turkish energy and industrial group with approximately US$1.0B in consolidated assets, an 87% equity-to-assets ratio, and a net-cash position maintained since 2023. DHG is the group's dedicated vehicle for U.S.-nexus upstream investment in Venezuela.
| Group Entity | Jurisdiction | Activity | Listing |
|---|---|---|---|
| ODAŞ Elektrik Üretim Sanayi Tic. A.Ş. | Türkiye | Parent · Energy generation | BIST: ODAS · BIST 100 |
| ÇAN2 Termik A.Ş. | Türkiye | 340 MW coal-fired generation · Venezuelan investment platform | BIST: CANTE · BIST 50 |
| Suda Maden A.Ş. | Türkiye | Antimony · gold · silver · coal mining | Private (100% ODAŞ) |
| Odaş Enerji CA LLC | Uzbekistan | 174 MW natural gas · 25-year USD PPA | Private (50% ODAŞ) |
| Zenn Yatırım Otelcilik İnşaat A.Ş. | Türkiye | Ahãma · Relais & Châteaux hotel · Michelin Key | Private (75% ODAŞ) |
| Denarius Holding Group, Inc. | USA · Florida | U.S. holding · Venezuelan upstream | Private (65% CANTE · 35% İntekno) |
Venezuela holds proven crude reserves at the top of the global ranking. The country's mature eastern fields — including the Petrokariña portfolio in Anzoátegui State — retain very substantial remaining recoverable reserves that can be developed through rehabilitation of existing infrastructure, targeted well interventions, and disciplined application of proven upstream techniques. The current U.S. regulatory framework provides authorized international operators with a defined perimeter within which to invest.
The Group's investment approach is patient and operational. Capital is committed against multi-decade contract structures. Field programmes are executed to international standards for safety, environmental performance, and operational discipline. Corporate governance sits with a publicly-listed Turkish parent and is subject to the disclosure regime of the Capital Markets Board of Türkiye, providing shareholders, regulators, and counterparties with the transparency they should reasonably expect.
DHG's role is to be the reliable U.S.-domiciled counterparty for that programme — for PDVSA and the Ministry of Petroleum on the upstream side, for international operators and service providers on the technical side, and for U.S. banks and international lenders on the financing side.