The Venezuelan state oil company PDVSA signed a memorandum of understanding with the oil multinational Schlumberger, focusing on oil and gas sectors. On Wednesday, June 10, the acting president of Venezuela, Delcy Rodríguez, received the CEO of Schlumberger Limited, Olivier Le Peuch, at the Miraflores Palace for the signing of the MoU. The agreement is...

The Venezuelan state oil company PDVSA signed a memorandum of understanding with the oil multinational Schlumberger, focusing on oil and gas sectors.

On Wednesday, June 10, the acting president of Venezuela, Delcy Rodríguez, received the CEO of Schlumberger Limited, Olivier Le Peuch, at the Miraflores Palace for the signing of the MoU.

The agreement is aimed at establishing new areas of cooperation within the oil and gas sectors, promoting the transfer of cutting-edge technology for exploration, drilling, and optimization of reservoirs in the country.

Schlumberger, the largest oilfield services company in the world and a global technology leader for the sector, is to contribute its technological capabilities in developing wells and raw material processing.

The MoU also covers the country’s mining potential, a sector presenting a wide range of opportunities under the Organic Mining Law.

During the meeting with the CEO of Schlumberger Limited, the acting president highlighted the historical significance of Venezuela’s relationship with the French company, constituting almost a century of joint work in energy development.

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Rodríguez said that the signing of the memorandum symbolizes “the new moment that Venezuela is going through” in the pursuit of well-being for all Venezuelans.

Although PDVSA has had various production and exploration agreements with oil multinationals in the past and even after the imposition of the US blockade, many within the Chavista ranks are increasingly viewing this kind of agreements with suspicion and worry, as they come amid controversial administrative shifts emerging in a landscape deeply altered by the US military invasion on January 3. Such invasion resulted in the kidnapping of President Nicolás Maduro and Firist Lady Cilia Flores, and the murder of more than 100 people, including 32 Cuban and 47 Venezuelan soldiers. Following this act of imperialist aggression, the Venezuelan government enacted several controversial measures that, according to critics, are distancing the administration from its Chavista socialist legacy.

(Alba Ciudad) with Orinoco Tribune content

Translation: Orinoco Tribune

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