Oilfield service companies including Weatherford International, Baker Hughes, Halliburton and SLB are advertising dozens of jobs in Venezuela, according to company websites, an early sign that a Washington-backed plan to rebuild the country’s energy industry is gaining traction.
The hiring could help reverse a sanctions-era exodus of companies and professionals from the country and comes as the administration of US President Donald Trump pushes a $100 billion oil revival plan following the capture of then-President Nicolas Maduro in January.
With some major producers signaling they need political stability and clear legal rules before committing big money, international oil service firms are taking initial steps to put workers, rigs and equipment on the ground.
Weatherford, which had scaled back its presence in Venezuela in 2019, has at least 20 open positions, mostly for the oil and gas hubs of Anaco and Maturin, which it started advertising last month. The firm is seeking operation supervisors, drilling specialists and engineers, the company’s career website page showed.
The US company is set to host a ceremony with Eni this month, a source said, following an agreement with state-run PDVSA in September for the Italian producer to expand at Venezuela’s Orinoco Belt. Eni has engaged Weatherford to help increase production, the source said.
Weatherford and Eni did not reply to requests for comment.
Venezuela has the world’s largest oil reserves, but it pumps only about 1.2 million barrels per day (bpd), a fraction of what those reserves could support.
Baker Hughes, which also is expanding in the country, has a dozen openings on its website, posting roles in Maracaibo — Venezuela’s second-largest oil region. The company signed an agreement this month with PDVSA, engineering firm Lindsayca and developer Fulcrum LNG to reactivate gas infrastructure.
SLB, meanwhile, has 35 vacancies on its website for positions in Anaco, Maturin and Caracas, with postings dating back around six months.
Halliburton said in early October it was seeking to expand the company’s talent network in Venezuela.
A Baker Hughes spokesperson said the company does not comment on personnel. SLB declined to comment. Halliburton did not immediately respond to a request for comment.
Most foreign oil service firms had shut down or reduced operations in Venezuela following US sanctions in 2019, laying off or transferring staff and removing equipment from the country.
RIGS ON THE WAY
Equipment is starting to return, though from a low base. Only two drilling rigs were active in Venezuela this month, according to Baker Hughes data.
US-backed North American Blue Energy Partners said it received two drilling units last week, and Chevron is expected to soon activate four.
One of the largest US land drilling contractors, Patterson-UTI, said it is currently shipping components for 10 older rigs of a type CEO Andy Hendricks said the company has not used in the US in about 15 years. “It’ll be fine for Venezuela,” he said in an interview last week.
Through the end of next year, deployments are expected to focus mostly on workover rigs to reopen and repair wells at mature fields, according to Welligence Energy Analytics. Combined with major oil firms’ expansion plans, that approach would help lift crude output to some 1.5 million bpd by late 2027 from the 1.2 million bpd now, the consultancy said.
“We are being cautiously optimistic,” said Andres Armijos, Welligence’s head for Latin America, referring to the investment plan and recent job postings. “In reality, this will take time.”
(Reporting by Georgina McCartney and Marianna Parraga in Houston; Editing by Nathan Crooks and Sanjeev Miglani)