VENEZUELA — Halliburton is expanding its involvement in potential energy development in Venezuela through memorandums of understanding with Brazilian energy company Eneva and WESCA, as international firms seek opportunities in the country’s oil and gas industry.

The U.S. oilfield services company said Monday that the agreements are intended to identify and pursue development opportunities in Venezuela.

Under its memorandum with Eneva, Halliburton will work with the Brazilian energy company to identify potential energy development projects in the country.

A separate agreement with WESCA calls for Halliburton to provide assistance with field evaluation and development planning. The arrangement builds on an existing relationship covering reservoir analysis, digital technologies and subsurface interpretation.

The agreements come as Venezuela’s energy sector draws renewed international attention following years of underinvestment.

Companies already operating in the country, along with firms weighing a return or a first entry into the market, have been negotiating or finalizing arrangements that could support higher production and infrastructure improvements.

According to the Reuters report, interest in Venezuela has increased substantially since the U.S. capture of former President Nicolas Maduro in January.

Several major international energy companies have also shown interest in the country’s oil sector.

Earlier this month, privately owned Continental Resources signed memorandums with Venezuela’s state oil company PDVSA regarding additional operations and development in the Ayacucho 2 area of the Orinoco Belt.

Chevron has said it intends to invest $7 billion through its Venezuelan joint ventures.

ExxonMobil is also reportedly considering a return to Venezuela and has expressed interest in the Petromonagas heavy oil project in the Orinoco Belt, as well as areas within the neighboring Carabobo block.

Halliburton’s latest agreements do not constitute completed oil production projects. Instead, they establish cooperation focused on assessing and pursuing potential development opportunities.

For oilfield services companies, a rise in Venezuelan activity could generate work involving exploration, reservoir analysis, field development and infrastructure improvements if proposed projects advance.

Venezuela holds significant oil resources, but years of limited investment have affected both production capacity and infrastructure. The renewed participation of international companies reflects efforts to identify ways to increase activity across the sector.

The Halliburton-WESCA agreement also highlights the importance of technical services in potential redevelopment efforts, including subsurface interpretation and digital technologies.

Halliburton and its partners will assess opportunities under the new agreements as broader international participation in Venezuela’s energy industry continues to take shape.

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