Halliburton, one of the leading oil and gas service companies in the US, has signed memoranda of understanding (MOUs) with Brazil’s Eneva and Venezuela’s WESCA to support energy development opportunities in Venezuela.

Upon the MoUs, Halliburton will support field evaluation and development planning in Venezuela in cooperation with Enenva and WESCA.

The companies currently work together to advance reservoir understanding and support development decisions through digital technologies and subsurface interpretation, Halliburton said.

“These agreements highlight Halliburton’s efforts to help customers unlock value from their assets through technology, collaboration, and execution excellence,” said Francisco Tarazona, senior vice president, Latin America, Halliburton

“Halliburton has a long history in Venezuela and supports customers as they pursue growth opportunities,” Tarazona added.  “We look forward to working with Eneva and WESCA to advance development opportunities and support the country’s evolving energy sector.”

Halliburton has been operating in Venezuela for nine decades through located bases in the country and by established operational capabilities and local expertise.

It is worth noting that, Venezuela’s National Assembly backed on September first an oil deal with the administration of US President Donald Trump, ahead of a planned visit to Caracas by US Energy Secretary Chris Wright, according to Reuters.

The agreement would give the US access to around one-fifth of Venezuela’s oil reserves through an arrangement under which private oil company North American Blue Energy Partners (NABEP) would receive a 100-year lease for 17 oil fields in Venezuela holding some 65 billion barrels of oil reserves.