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Halliburton signs pacts to support Venezuela energy projects
U.S. companies seek to secure new oil deals in the country
(Luke Sharrett/Bloomberg)
Key Takeaways:
- Halliburton Co., the world’s biggest provider of fracking services, said it signed non-binding agreements with Eneva SA and West-Construcciones CA to support the development of oil and gas projects in Venezuela. Halliburton said it will work with Eneva,
- The deals expand Halliburton’s presence as U.S. companies pursue opportunities in Venezuela and follow efforts to reverse asset seizures and restrictions.
- Halliburton said it will identify natural gas opportunities with Eneva and support field development planning with WESCA.
Halliburton Co., the world’s biggest provider of fracking services, said it signed non-binding agreements with Eneva SA and West-Construcciones CA to support the development of oil and gas projects in Venezuela.
Halliburton said it will work with Eneva, Brazil’s largest private natural gas operator, to identify natural gas development opportunities, according to a statement Sept. 21. In a separate memorandum of understanding with engineering firm WESCA, Halliburton said it will support field development and planning in the country.
The agreements add to Halliburton’s presence in Venezuela as U.S. companies seek to secure new oil deals in the country. President Donald Trump has sought to assist in the return of U.S. oil and gas companies to the country, including pressing Venezuelan leadership to cancel the auction of assets seized from Halliburton in February.
The Houston-based company shut down primary operations in Venezuela in 2020 amid tightening US sanctions against the nation’s socialist regime.
Halliburton ranks No. 9 on the Transport Topics Top 100 list of the largest private carriers in North America and No. 1 among petroleum and chemical carriers.
