SLB Prepares to Restart 15 Oil Rigs in Venezuela

US oil companies lock in Venezuela deals

After months of slow progress and noncommittal MOUs, international oil companies are making tangible headway in Venezuela. Oil Minister Paula Henao announced deals with two US firms this week. Oilfield service provider SLB will provide AI software to facilitate drilling, and said it is working to import oil rigs into the country. And Texas producer Hunt Oil became one of the first to sign a production agreement with state-owned PDVSA; a spokespe…

SLB Prepares to Restart 15 Oil Rigs in Venezuela

Oilfield services giant SLB is preparing to reactivate as many as 15 drilling rigs in Venezuela, potentially removing one of the biggest obstacles to increasing the country’s crude production. SLB and energy-focused private equity firm Formentera Partners are working on separate efforts to increase Venezuela’s drilling capacity, executives said at an industry conference in Houston on Wednesday. Formentera is discussing importing rigs with intern…

SLB Prepares to Restart 15 Oil Rigs in Venezuela - Energy News Beat

Oilfield services giant SLB (formerly Schlumberger) is preparing to reactivate as many as 15 idle drilling and workover rigs already located in Venezuela, a move that could help ease one of the primary bottlenecks constraining the country’s crude production recovery.

Oil Reaches $92, Venezuela's 15-Rig Strategy Offers SLB 7.5 Times More Activity

LONDON, August 20, 2026, 10:20 BST — European markets have opened while U.S. shares are in premarket trade. Brent crude climbed 1.3%, reaching a three-week peak at $92.82. SLB has the capacity to bring as many as 15 rigs in Venezuela back into operation in the span of a year. Venezuela had just two active…