Venezuela: Explores Alliances with U.S. Companies for More Crude Oil





Explores Alliances with U.S. Companies for More Crude Oil

The State-run oil firm Petroleos de Venezuela (PDVSA) has explored new alliances with U.S. companies to assess the progress in the recovery of wells in northern Monagas and Zulia states, local press reported.
PDVSA President Nelson Martinez met with representatives of U.S. oil companies Halliburton and Schlumberger with that purpose, according to the Venezuelan News Agency (AVN).
During the meeting, they assessed some mechanisms to increase the drilling capacity of the country, which will lead to an increase in crude oil production, AVN said.

In a press release, PDVSA ratified the exploratory meetings with U.S. companies, which has resulted in a relationship model of trust.

Venezuela’s most important state-owned company also said that those meetings point to a greater participation of Halliburton and Schlumberger to increase production by 200,000 and 300,000 barrels of oil per day.

Martinez confirmed that both international companies expressed their willingness to work together with the state-run oil firm to achieve that goal.

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