Halliburton, a service provider of oilfield services in Venezuela, is negotiating commercial terms with its customers

Halliburton, a?oilfield service? firm, said on Tuesday that it had been in discussions with its customers about commercial terms for operations in Venezuela following visits to the existing facilities.

Since the U.S. captured?former president Nicolas Maduro?in January, interest in Venezuela has risen dramatically. Oil producers and investors are looking to re-enter this country which is home to some of the largest proven oil reserves in the world. Oil majors like Chevron, who are already present in Venezuela, have announced plans to increase production. They're focusing on the service companies and equipment required for much of the work.

"We are having great conversations with our customers." Jeff Miller, Halliburton's CEO, said that the company receives a lot of inquiries.

Miller stated that many of the South American company's facilities and bases are in better condition than he expected. Halliburton left Venezuela in 2020, and cut staff after the U.S. introduced sanctions.

Miller took part in a meeting at the White House with President Donald Trump in the early part of the year, during which he mentioned that the company began operations in Venezuela as far back as 1938.

According to a recent job posting, the company began seeking resumes in January for a variety of positions in Venezuela, including engineers and technicians. The U.S. Government has since taken steps to remove or ease many of the sanctions imposed by the government on the industry as part of a plan to restore oil production. Arathy S. Somasekhar, Houston; Nathan Crooks & Chris Reese edited the article.

(source: Reuters)