Chevron and other US companies plan to invest billions of dollars in Venezuelan oil fields, with an agreement expected to be finalized soon

(1) According to informed sources, Chevron is about to finalize an agreement to expand its long-standing operations in Venezuela, potentially adding two heavy oil fields to its asset portfolio. Chevron currently has three joint ventures with the Venezuelan National Oil Company and is the only major US corporation still operating in the country. (2) Major US oilfield service company Halliburton is also in negotiations, planning to provide a full set of equipment to Venezuelan oil producers. After months of slow progress, this multi-billion dollar investment agreement is expected to become a result achieved by the US side.