Venezuela and Schlumberger Sign Strategic Hydrocarbon Agreement in Caracas
The agreement with this conglomerate will contribute to the national goal of consolidating Venezuela as a global energy power. Photo: Venezuelan Presidential Press.
June 10, 2026 Hour: 9:09 pm
🔗 Comparte este artículo
Venezuela’s Acting President Delcy Rodríguez signed a memorandum of understanding this Wednesday with oil services giant Schlumberger to transfer advanced technology to Venezuela.
Venezuelan President Delcy Rodríguez signed a strategic alliance on June 10 with Schlumberger Limited Eexecutive Chief Olivier Le Peuch in Caracas to boost oil and gas production through advanced technology.
The agreement signed at the Miraflores Palace establishes direct cooperation between the state-owned enterprise Petróleos de Venezuela (PDVSA) and the largest petroleum services provider in the world.
RELATED: Acting President Rodriguez Returns with Projects Aimed at Venezuelan Economic Prosperity
The transnational firm will supply specialized tools for well development and raw material processing in Venezuelan fields. This alliance supports the national strategy to consolidate the Bolivarian country as a global energy power.
This strategic project counteracts the negative effects of unilateral coercive measures imposed by the United States, under the national strategy aimed to build a diversified productive model.
Official spokespersons highlighted that these technology transfer agreements allow the country to maintain sovereign control over its resources. This methodology guarantees that the benefits of the extractive industries directly fund national social programs.
Global Strategic Partnerships
Today’s agreement follows other successful energy deals executed over the last three months with international firms.
On April 13, PDVSA signed an asset exchange agreement with the North American corporation Chevron. This deal transferred a gas field license in exchange for the integration of the Ayacucho 8 oil field. This transaction integrated the field into the production scheme of the joint enterprise PetroPiar allowing Venezuela to optimize its production capacity and secure stable export routes.
On April 28, the state company signed a terms sheet with the Italian firm Eni, which authorizes primary activities in the Junín 5 block located in the Orinoco Oil Belt.
On April 30, PDVSA signed additional contracts with Overseas Oil Company and Crossover Energy Holding. These joint ventures will mobilize investments exceeding 2,000 million dollars in the oil, gas and mining sectors.
According to Venezuelan autorithies, this alliance extends to the country’s mining potential, a sector that also presents numerous opportunities under the Mining Law, ratifying the commitment of the Bolivarian Government to open the doors to foreign capital for the responsible use of the vast national wealth, accelerate the development of the country and contribute to improving the income and living conditions of the population.
Author: Laura V. Mor
Source: Venezuelan Presidential Press
