Oil Firms Hire as Venezuela Revival Targets 1.5M BPD

Hiring Follows Layoffs

Weatherford International, Baker Hughes, Halliburton and SLB are advertising jobs in Venezuela as a Washington-backed plan aims to rebuild the country’s energy industry. U.S. President Donald Trump’s administration is promoting a $100 billion oil revival plan after the capture of then-President Nicolas Maduro in January.

The new hiring follows a contraction triggered by U.S. sanctions in 2019. Most foreign oilfield service firms shut down or cut operations, laying off or transferring staff and removing equipment. Now, workers are being recruited as equipment returns, but activity remains limited. Baker Hughes data showed only two drilling rigs active in Venezuela in October.

Weatherford scaled back its Venezuelan presence in 2019 and now lists at least 20 open positions, mostly in the oil and gas hubs of Anaco and Maturin. The roles include operation supervisors, drilling specialists and engineers. Baker Hughes lists a dozen openings in Maracaibo, Venezuela’s second-largest oil region, while SLB lists 35 vacancies in Anaco, Maturin and Caracas. Halliburton said in early October that it was seeking to expand its talent network in Venezuela.

Investment and State Agreements

The hiring is tied to company plans and agreements with Venezuela’s state-run PDVSA. Eni agreed with PDVSA in September to expand in the Orinoco Belt, and a source said Eni had engaged Weatherford to help increase production. The source said Weatherford would host a ceremony with Eni this month. Weatherford and Eni didn’t respond to requests for comment.

Baker Hughes signed an agreement this month 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 declined to comment, and Halliburton didn’t immediately respond to a request for comment.

The companies’ expansion plans depend on equipment and labor returning to fields where operations had contracted. 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 rigs 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.

Production Targets and Limits

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. This approach, combined with expansion plans by major oil companies, could lift crude output to about 1.5 million barrels per day by late 2027, from about 1.2 million barrels per day at the time of the report.

Major producers say they need political stability and clear legal rules before committing large sums. International oilfield service companies are taking initial steps to put workers, rigs and equipment in the country, while the current rig count remains two. “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.”