Halliburton Negotiates Venezuela Oil Service Terms
Halliburton is discussing commercial terms with customers to restart operations in Venezuela. CEO Jeff Miller noted that facilities are in good condition.
HALLIBURTON CO has initiated discussions regarding commercial terms with customers for its operations in Venezuela, following a series of inspections of its existing infrastructure in the country. Interest in the South American nation's energy sector has intensified as oil producers and investors seek to re-enter a market that possesses the world's largest proven oil reserves.
Major industry players such as CHEVRON CORP are already advancing plans to increase production, which has placed a significant focus on the service firms and equipment required for such expansions. Jeff Miller, the CEO of Halliburton, stated that the company is receiving numerous inbound inquiries and is actively engaged in talks about commercial frameworks.
