The United States is in talks with Chevron, other oil producers and major oil field service providers about plans to quickly increase Venezuela’s oil production, Bloomberg News reported Saturday, citing administration officials.
Officials are in talks to bring in SLB, Halliburton and Baker Hughes to repair and replace aging equipment and renovate old drilling sites, the report said. Reuters could not immediately confirm this report.
The White House, Chevron, SLB, Baker Hughes and Halliburton did not immediately respond to Reuters’ requests for comment. With limited investment, Venezuela could increase production by hundreds of thousands of barrels in the short term, the report said, adding that the latest U.S. equipment and technology could activate existing wells and start new production within months.
US President Donald Trump said on Friday that US oil companies will soon begin drilling for oil in Venezuela. President Trump has made it clear that he wants to expand Venezuela’s oil production following the detention of Venezuelan leader Nicolás Maduro.
(Reporting by Rajveer Singh Pardeshi in Bengaluru; Editing by Tomasz Janowski)
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