The Venezuelan minister, who led a delegation visiting the United States (USA), confirmed on Tuesday the signing of a production participation contract. This agreement aims at the development and utilization of production in the Caro and Carisito fields.
In an interview given to the state broadcaster Venezolana de Televisión, Henao stated that Hunt Oil is a proven company and that they will seek to increase production in these two locations.
Furthermore, the minister announced a partnership with the technology multinational SLB (formerly Schlumberger) to conduct an integrated study of oil and natural gas reservoirs within Venezuela.
The terms of these agreements were formalized in Houston, Texas, located in the southern part of the USA. At the time, Henao was accompanied by the Deputy Minister of Geopolitics, Eduardo Ramírez.
Other participants present included Jovanny Martínez, executive vice president of the state oil company PDVSA, and Johan Álvarez, responsible for Venezuela's business in the USA.
The delegation also participated, on Tuesday, in a forum with the US Energy Undersecretary, Kyle Haustveit, as disclosed by Henao on her Instagram account.
In June, Venezuela and SLB had established a memorandum of understanding in Caracas, focused on exploring cooperation opportunities in oil and gas services through the use of advanced technology.
Venezuelan crude oil production reached an average of 1.2 million barrels per day in July, representing a growth of 1.09% compared to June. This increase occurred despite the impact of a double earthquake that occurred in the north of the country on June 24, which resulted in at least 6,438 deaths.
According to official data, production has grown by 29.8% since January, when it recorded 924 thousand barrels per day.
This production recovery scenario follows the capture of President Nicolás Maduro in Caracas during a military operation, after the USA imposed an embargo against sanctioned tankers transiting through Venezuela.
Since that period, the South American country has been opening up to foreign investment in crucial sectors such as oil, mining, and electricity, maintaining close collaboration with the USA. President Donald Trump recently described this bilateral relationship as excellent.
In February, the US Treasury Department issued licenses that allowed companies such as Chevron, BP, Eni, Shell, and Repsol to resume their activities in Venezuela, paving the way for new investments in the oil and gas sector.