U.S.-Backed Oil Revival Draws Foreign Contractors

Weatherford International, Baker Hughes, Halliburton and SLB are advertising dozens of jobs in Venezuela as a Washington-backed plan to rebuild the country’s energy industry moves toward new investment. The hiring follows the capture of then-President Nicolas Maduro in January, while U.S. President Donald Trump’s administration promotes a $100 billion oil revival plan.

Companies Move Ahead

Weatherford had at least 20 open positions, mostly in the oil and gas hubs of Anaco and Maturin, according to its careers website. First advertised the previous month, the openings included operation supervisors, drilling specialists and engineers. Weatherford scaled back its Venezuelan presence in 2019.

A source said Weatherford planned to host a ceremony with Eni this month. Eni agreed with state-run PDVSA in September to expand in Venezuela’s Orinoco Belt and engaged Weatherford to help increase production, the source said. Weatherford and Eni didn’t respond to requests for comment.

Baker Hughes had a dozen openings in Maracaibo, Venezuela’s second-largest oil region. This month, the company signed an agreement with PDVSA, engineering firm Lindsayca and developer Fulcrum LNG to reactivate gas infrastructure. A Baker Hughes spokesperson said the company doesn’t comment on personnel.

SLB listed 35 vacancies in Anaco, Maturin and Caracas, with postings dating back about six months. Halliburton said in early October it was seeking to expand its talent network in Venezuela. SLB declined to comment, and Halliburton didn’t immediately respond to a request for comment.

Investment and Equipment

Major producers say they need political stability and clear legal rules before committing large sums. Meanwhile, international oilfield service companies are taking initial steps to put workers, rigs and equipment in the country. Most foreign service firms shut down or reduced operations after U.S. sanctions in 2019, laying off or transferring staff and removing equipment.

Equipment is starting to return. Activity remains low. Baker Hughes data show only two drilling rigs active in Venezuela in October. North American Blue Energy Partners, a U.S.-backed company, said it received two drilling units the previous week. Chevron was expected to activate four soon.

Patterson-UTI, one of the largest U.S. land drilling contractors, said it was shipping components for 10 older rigs. CEO Andy Hendricks said the company hadn’t used that type of rig in the United States for about 15 years. “It’ll be fine for Venezuela,” Hendricks said in an interview the previous week.

Output Target Remains a Projection

Welligence Energy Analytics said deployments through the end of 2027 are expected to focus mostly on workover rigs, which reopen and repair wells at mature fields. Along with expansion plans by major oil companies, the work could raise crude output to about 1.5 million barrels per day by late 2027, from about 1.2 million bpd at the time of the report.

“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.” The report details hiring, agreements and equipment deployments but gives no figures on how the revival plan would affect Venezuela’s population or the distribution of its oil revenues.