Venezuela oil minister Paula Henao said on Tuesday the government signed oil-related contracts with Schlumberger and U.S. independent Hunt Oil to attract investment and raise crude output. The deals include an oil-and-gas production participation agr

2026-08-19

Venezuela oil minister Paula Henao said on Tuesday the government signed oil-related contracts with Schlumberger and U.S. independent Hunt Oil to attract investment and raise crude output. The deals include an oil-and-gas production participation agreement with two field-development partners; Henao did not disclose expected investment or incremental production. Caracas also signed a framework agreement with Schlumberger for nationwide integrated reservoir studies. Politico reported several more U.S. independents are expected to sign production contracts with state company PDVSA in the coming days.