Halliburton Signs Venezuela MOUs With Eneva, WESCA to Rebuild Energy Presence

Halliburton (NYSE: HAL) signed non-binding memorandums of understanding on September 21, 2026 with Brazil's Eneva and Venezuelan engineering firm WESCA to pursue energy development opportunities in Venezuela, positioning the oilfield services giant for a broader revival of the country's oil and gas sector. The Eneva agreement covers identification and pursuit of development opportunities, building on the companies' existing Brazilian relationship. Eneva, Brazil's largest private natural gas operator, has said it was evaluating Venezuelan opportunities including gas-fired power projects. The WESCA deal focuses on field evaluation and development planning, including digital technology and subsurface interpretation. Halliburton suspended its primary Venezuelan operations in 2020 amid tightening U.S. sanctions, after operating in the country for nearly nine decades. The Houston-based company cited existing bases, operational capabilities and local expertise. The deals follow Chevron's plan to invest more than $7 billion in Venezuela over five years, targeting roughly 600,000 barrels per day, and Continental Resources' preliminary agreement with PDVSA.