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.