Venezuela’s oil minister Paola Enau told investors in Houston Caracas seeks to sign production-sharing contracts to raise output from the country with the world’s largest crude reserves. She said 916 exploration and production blocks are available and that Venezuela must conclude such agreements to access the new blocks. This week Caracas signed deals with Schlumberger (SLB.N) and Hunt Oil; about 140 companies attended the investor session as Venezuela seeks more private investment to reverse a

Venezuela’s oil minister Paola Enau told investors in Houston Caracas seeks to sign production-sharing contracts to raise output from the country with the world’s largest crude reserves. She said 916 exploration and production blocks are available and that Venezuela must conclude such agreements to access the new blocks. This week Caracas signed deals with Schlumberger (SLB.N) and Hunt Oil; about 140 companies attended the investor session as Venezuela seeks more private investment to reverse a roughly 20-year decline in oil production.