The agreements were announced on September 21 as international companies ramp up their examination of opportunities across Venezuela’s upstream sector. Halliburton and Eneva will collaborate to identify and pursue development opportunities, while a separate agreement with WESCA will support field evaluation and development planning, building on existing work between the companies in reservoir analysis and subsurface interpretation.

In their press statement, Halliburton said its Venezuelan operations are supported by strategically located bases, established operational capabilities and local expertise developed over nearly nine decades in the country.

The Eneva agreement could give Halliburton a role in projects pursued by one of Brazil’s largest private energy companies as it evaluates opportunities beyond its domestic market. Eneva is Brazil’s largest private natural gas operator, and the companies already have an established relationship in Brazil, creating a foundation for cooperation as new Venezuelan projects are assessed.

Under the WESCA agreement, Halliburton will provide technical support for field evaluation and development planning. The companies are already working together to improve reservoir understanding through digital technologies and subsurface interpretation, areas that could become increasingly important as operators seek to assess mature fields, identify recoverable resources and determine development requirements.

The agreements also illustrate the type of technical and services capacity that will be required if Venezuela’s renewed investment pipeline translates into higher production. Reuters reported that companies with existing positions in Venezuela, alongside those seeking new opportunities, are negotiating or finalizing agreements aimed at expanding production and improving infrastructure following years of underinvestment.

Halliburton’s agreements follow a series of larger international moves into the Venezuelan market. Chevron has announced plans to invest $7 billion through its Venezuelan joint ventures, while Continental Resources has signed an MoU with PDVSA covering the Ayacucho 2 area in the Orinoco Belt. ExxonMobil has also been reported to be discussing a potential return to Venezuela.

That expanding project pipeline will form part of the investment backdrop for Venezuela Energy Week 2027, taking place in Caracas from February 22–25. Halliburton and Eneva are already listed among the event’s 2027 sponsors and exhibitors, alongside other international energy and services companies, giving the conference a direct connection to the commercial relationships now emerging in Venezuela.

For Halliburton, the agreements extend beyond a single project and position its technology, field services and subsurface capabilities alongside companies evaluating new Venezuelan opportunities. As development plans move from initial assessments toward investment and execution, the company’s long-standing local infrastructure could provide a platform for supporting projects across Venezuela’s recovering oil and gas industry.