International Oilfield Service Firms Accelerate Hiring and Equipment Deployments Across Venezuela

Major oilfield service companies including SLB, Baker Hughes, Halliburton, and Weatherford are accelerating hiring and readying equipment across Venezuela. The operational buildup aligns with a Washington-backed $100 billion revival initiative designed to rehabilitate the nation's energy sector. Active drilling rigs numbered just two earlier in October, but Chevron is preparing to activate four additional units alongside drilling contractors mobilizing gear. With Venezuela currently producing about 1.2 million barrels per day, consultancy Welligence forecasts targeted mature-field workovers could lift national output to 1.5 million barrels per day by late 2027.