Halliburton Cements Move Toward Venezuela With Eneva, WESCA MOUs — 2nd Update

By Elias Schisgall

Halliburton signed memorandums of understanding with Eneva and WESCA to support energy-development opportunities in Venezuela, cementing the company's movement toward ramping up business in the country after the Trump administration secured control over much of its oil fields.

Eneva, a Brazilian energy firm, would collaborate with Halliburton on identifying and pursuing opportunities for development in Venezuela, building on their existing relationship in Brazil.

Halliburton would also support field evaluation and development planning in Venezuela under its agreement with WESCA.

"Halliburton has a long history in Venezuela and supports customers as they pursue growth opportunities," Halliburton's senior vice president for Latin America, Francisco Tarazona, said. "We look forward to working with Eneva and WESCA to advance development opportunities and support the country's evolving energy sector."

Jeff Miller, Chief Executive of the oilfield-services company, told investors in January that he was optimistic about the firm growing its business in Venezuela following the Trump Administration's ouster of former Venezuelan President Nicolas Maduro, saying his phone was "ringing off the hook" from interested parties.

Halliburton had exited Venezuela in 2019 to comply with U.S. sanctions but maintained a footprint in the company that would allow it to scale operations.

Other American firms have signed deals to pursue business in Venezuela in recent weeks, after President Trump's August announcement that the U.S. reached a deal with interim President Delcy Rodriguez to take control of many of the country's oil fields.

Chevron earlier this month said it plans to invest more than $7 billion in the country over the next five years. Continental Resources, a firm led by billionaire Harold Hamm, signed a tentative agreement to venture into the country last week. U.S. firms GE Vernova, Primavera and Aspect Holdings have all also signed deals to boost oil-and-gas production in Venezuela.

Exxon Mobil is nearing a preliminary deal to explore investment opportunities in the country's oil fields through an MOU with the state-run company Petroleos de Venezuela, The Wall Street Journal reported last week, citing people familiar with the matter.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

September 21, 2026 10:19 ET (14:19 GMT)