Halliburton eyes Venezuela return as oil sector reopens

Published: 2026-04-22 16:10:16 ET HAL

Published on 04/22/2026 at 04:10 pm EDT

Halliburton Co. has entered talks with customers over a potential return to Venezuela, signalling renewed activity in the country’s oil services sector amid shifting political and regulatory conditions, Reuters reported.

Chief Executive Officer Jeff Miller said the company is discussing commercial terms following visits to its facilities, noting strong inbound interest from clients. He added that many of its local bases are in better condition than expected, easing the path for a possible restart. “We’re having great discussions with customers,” he said.

The company exited Venezuela in 2020 after US sanctions forced it to halt operations and reduce staff. However, interest in the country’s energy sector has surged since January, with producers and investors seeking to re-enter a market that holds the world’s largest proven oil reserves.

Oil majors already operating in Venezuela are moving to boost output, increasing demand for service firms and equipment providers. In response, Halliburton has begun recruiting engineers and technicians as part of early preparations for re-engagement.

The renewed push follows the easing of US sanctions as part of broader efforts to revive oil production. Miller, who attended a White House meeting earlier this year, also pointed to the company’s long-standing presence in Venezuela, dating back to 1938, underscoring its readiness to scale up operations if conditions continue to improve.