SLB has signed a long-term framework agreement with Petróleos de Venezuela (PDVSA) to support the revitalisation and modernisation of Venezuela’s oil and gas sector.
The memorandum of understanding (MoU) establishes a basis
for cooperation across exploration, field development, production, digital
enablement and workforce training and development.
The collaboration is intended to strengthen operational
execution and promote sustainable development of Venezuela’s hydrocarbon
resources.
It builds on SLB’s 97 years of uninterrupted presence in the
country and reflects a shared focus on combining technology, local capability
and continued sector development.
“Venezuela’s oil and gas sector has substantial resource
potential, and realising that potential will require technology, digital
integration and long-term talent development,” said Olivier Le Peuch, chief
executive officer of SLB. “For nearly a century, SLB people in Venezuela have
stayed the course — working alongside the country’s energy sector through every
cycle, bringing expertise, technology and a deep commitment to local
capability. This MoU builds on that continuity and sets out a path with PDVSA to
strengthen operational excellence and develop the skills that will sustain
performance for years to come.”
A key focus of the agreement is the digital transformation
of Venezuela’s oil and gas sector. SLB and PDVSA plan to assess how connected
data, predictive models and AI-enabled workflows can help improve efficiency,
accelerate decision-making and strengthen the industry’s operating foundation.
The MoU also provides a framework to evaluate broader
cooperation across exploration, field development and production.
This includes opportunities to improve performance in mature
fields, unlock greater value from heavy and extra-heavy crude reserves, optimise
existing infrastructure and support future resource development.
Human capital development will be another important part of
the effort.
SLB plans to work with PDVSA and Venezuelan academic and institutional stakeholders to help expand local expertise and technical capability, strengthening the skills base the sector will need for long-term growth. -OGN/TradeArabia News Service
