SLB Signs Venezuela Oil Deals to Boost Production

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3▲2 ▼0Impact / 5
Summary · why it matters

SLB NV has signed oil-related agreements with Venezuela and Hunt Oil to boost crude production, including a framework deal for integrated reservoir studies and a contract tied to two oil fields, with plans to reactivate up to 15 rigs. The agreements follow a long-term pact with state oil company PDVSA and President Trump's call for investment in Venezuela, which holds the world's largest proven reserves at about 17% of the global total. However, the country's history of nationalization, unpaid debts, and infrastructure challenges pose significant risks, despite SLB's longstanding local presence and potential competitive edge over rivals like Halliburton and Baker Hughes.

Impact on assets 5

Energy▲
SLB N.V.
0SCL
▲ PositiveDemandrelevance

SLB N.V. signed oil-related agreements with Venezuela and Hunt Oil to boost crude production, including reactivating up to 15 rigs.

Energy Transition & Power Demand▲
Schlumberger NV
SLB
▲ PositiveDemandrelevance

SLB signed oil agreements with Venezuela and Hunt Oil, including a framework deal for reservoir studies and a contract tied to two oil fields with plans to reactivate up to 15 rigs.

Off-coverage companies 2

Hunt Oil Companyi
Private▲ PositiveDemandrelevance

Hunt Oil signed oil-related agreements with SLB to boost crude production tied to two oil fields.

Petroleos de Venezuela, S.A. (PDVSA)i
Private▲ PositiveDemandrelevance

PDVSA's long-term pact with SLB and the new agreements aim to boost Venezuela's crude production.