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The United States is in talks with Chevron, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela’s crude production, Bloomberg News reported on Saturday, citing senior administration officials.
Officials have discussed deploying SLB, Halliburton and Baker Hughes to repair and replace outdated equipment, and refresh older drilling sites, the report said. Reuters could not immediately verify the report.
The White House, Chevron, SLB, Baker Hughes and Halliburton did not immediately respond to Reuters’ requests for comment. With limited investment, Venezuela could boost production by several hundred thousand barrels over the short term, the report said, adding that modern U.S. equipment and techniques could revitalise existing wells and bring new production online within months.
U.S. President Donald Trump said on Friday that U.S. oil companies will soon start drilling for oil in Venezuela. Trump has been clear about his desire to boost oil production in Venezuela following the capture of the country’s leader, Nicolas Maduro.
(Reporting by Rajveer Singh Pardesi in Bengaluru Editing by Tomasz Janowski)
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