The energy industry is not waiting. Within weeks of the new regulatory framework opening Venezuela to US investment, the sector's biggest names have begun staking their positions.
Chevron is the only US major that never left Venezuela. The company has been operating there for nearly 100 years, producing and exporting heavy crude through joint ventures with PDVSA — and is now best positioned among global oil giants to immediately benefit from greater US access to the world's largest crude reserves. CNN Chevron's Vice Chairman told the White House directly that the company can increase its Venezuelan liftings by 100% essentially immediately, and grow production by 50% within 18 to 24 months through its own investment programs. CNBC
ExxonMobil's CEO initially told the White House that Venezuela was "uninvestable" in its current state — but that position is already shifting. Exxon confirmed it is prepared to send a technical team to evaluate the current state of Venezuela's oil industry and assets. CNBC For a company that called Venezuela uninvestable just weeks earlier, dispatching a technical team is a significant signal of what comes next.
Under General License 48, SLB is currently deploying advanced seismic imaging and horizontal drilling technology to revive mature Venezuelan fields that have been idle for nearly a decade. FinancialContent SLB has deep institutional knowledge of Venezuela's fields — it was among the last major oilfield services providers to reduce operations there — and that experience makes it a first mover for the rehabilitation work ahead.
Halliburton has initiated a massive recruitment drive for its Venezuelan operations, targeting the rehabilitation of over 10,000 idle wells. Financial Content Investors have already priced in Halliburton as a leveraged play on long-term Venezuela recovery work, with shares jumping sharply on the news of the country reopening. Yahoo Finance
The infrastructure rehabilitation required across Venezuela's fields — from wellheads to pipelines to camp facilities — will generate years of sustained demand for every layer of the supply chain.
Planterra Construction provides boots-on-the-ground infrastructure and modular workforce housing designed to help energy companies mobilize quickly and operate efficiently.
Contact us today to discuss how we can support your expansion into Venezuela.
We operate in Venezuela under Big Oil standards—so you don’t build locally or manage ops on the ground.
