Halliburton Signs MOUs to Return to Venezuela Energy Market

Halliburton said on 21 September 2026 it signed nonbinding memorandums of understanding with Brazilian energy company Eneva and with WESCA to pursue oil and gas development opportunities in Venezuela. Financial terms were not disclosed. The Eneva agreement builds on the companies' existing relationship in Brazil; under the WESCA agreement Halliburton would support field evaluation and development planning. Halliburton exited Venezuela in 2019 to comply with U.S. sanctions. After Nicolás Maduro was captured in a U.S. military operation on 3 January 2026, OFAC issued a February 2026 general licence permitting oilfield-service companies back into Venezuelan fields, beyond prior General Licence No. 50/50A that had authorized only BP, Chevron, Eni, Repsol and Shell. Francisco Tarazona, Halliburton senior vice president for Latin America, said the firm "has a long history in Venezuela and supports customers as they pursue growth opportunities." CEO Jeff Miller told investors in January his phone was "ringing off the hook." Other moves cited in coverage include Chevron planning more than $7 billion over five years, Continental Resources tentative PDVSA agreements on the Orinoco Belt, Exxon Mobil reportedly nearing a preliminary MOU with PDVSA, and deals involving GE Vernova, Primavera and Aspect Holdings. The MOUs do not disclose spending, revenue, or a firm timeline to contracts.