Venezuela signed oil-related contracts with two US companies as the government of the South American country seeks to attract investment and boost crude production, a report said.

The agreements are with oilfield-services giant SLB and independent producer Hunt Oil, Oil Minister Paula Henao said in an interview on state television on Tuesday from Houston, reported Bloomberg.

The signings come as Caracas and Washington push to accelerate investment in Venezuela’s vast but underdeveloped oil reserves. 

Politico reported earlier that several independent US producers were expected to sign production contracts with state oil company PDVSA in the coming days.