Halliburton Discusses Commercial Terms for Operations in Venezuela
American oilfield services company Halliburton is discussing commercial terms for operating in Venezuela with clients, CEO Jeff Miller said.
“We are having excellent discussions with clients. We are discussing commercial terms (for operations in Venezuela),” Reuters quoted Miller as saying.
The agency notes that interest in Venezuela has sharply increased following the January 3 seizure by the United States of the country’s president Nicolas Maduro. Reuters writes that American oil companies are seeking to return to the Venezuelan market and are promoting plans to increase local production, paying increased attention to service companies and equipment required for most operations.
Reuters reports that after a trip to the Latin American country, the Halliburton CEO said that many of the company’s bases and facilities in Venezuela are in better condition than he had expected. The agency notes that Halliburton left Venezuela in 2020 and reduced its workforce there following the imposition of U.S. sanctions.
The agency also reports, based on an analysis of job postings on Halliburton’s official website, that the company began accepting resumes in January for various positions in Venezuela, including engineers and technicians.
Reuters explains that the company changed its policy toward the Latin American country amid the easing by the U.S. government of many sanctions on Venezuelan oil imports as part of President Donald Trump’s plan to increase oil production and reserves in the United States.
After the seizure of Maduro, Trump stated that Venezuela’s heavy oil could be used effectively for road construction and that the United States is ready to process it, but warned American oil companies that at least $100 billion would need to be invested in Venezuela to develop production.
Halliburton Inc. was founded in 1919. The company manufactures drilling equipment and services pipelines and storage facilities. It operates in more than 70 countries and employs over 40,000 people. Its headquarters is located in Houston, Texas (USA).
