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Oilfield services firms Halliburton and Schlumberger will participate in projects to raise crude production in northern Venezuela. according to the country`s state oil company PDVSA.
Venezuelan officials met with Halliburton and Schlumberger executives to discuss a plan that would see both companies receive a share of production revenue. PDVSA said in a statement.
It added that `200.000b d and 300.000b d` would be added from selected fields in the states of Monagas and Zulia. without providing further details.
Halliburton said last year that it began scaling back operations in Venezuela as a result of delayed payments.
Last month. PDVSA announced it would pay some contractors. including Schlumberger and Halliburton. with promissory notes amid Venezuela`s escalating financial crisis.
