Halliburton signs Venezuela energy pacts with Eneva, WESCA

Sept 21 (Reuters) – Halliburton has signed memorandums of understanding with Brazilian energy company Eneva and WESCA to pursue oil ​and gas development opportunities in Venezuela, the ‌U.S. oilfield services provider said on Monday, as companies seek a potential revival of investment in the country’s long-underdeveloped energy ​sector

Companies with existing positions in Venezuela, as well ​as those seeking new opportunities, are negotiating ⁠or finalizing agreements that could expand production, improve infrastructure ​after years of underinvestment.

Here are more details:

• Halliburton and Eneva ​will identify and pursue energy development opportunities in Venezuela
• Under a separate MoU, Halliburton will support WESCA with field evaluation and ​development planning, building on their existing work in ​reservoir analysis, digital technologies and subsurface interpretation
• Interest in Venezuela has ramped up ‌dramatically ⁠since the U.S. capture of former President Nicolas Maduro in January, with oil producers and investors looking to re-enter the country.
• Earlier this month, privately owned Continental ​Resources signed MoUs with ​Venezuela’s state ⁠oil company PDVSA seeking to further operate and develop the Ayacucho 2 area ​in the Orinoco Belt, while Chevron it will invest $7 ​billion ⁠through its Venezuela joint ventures.
• ExxonMobil is reportedly in talks to return to the country and has expressed interest in ⁠the ​Petromonagas heavy oil project in ​the Orinoco Belt, as well as areas in the neighboring Carabobo block