Oilfield services firms expand hiring in Venezuela

International oilfield services companies such as Weatherford International, Baker Hughes, Halliburton and SLB increased staffing at Venezuelan oil fields, according to the portal Banca y Negocios on October 20, 2026. The revival follows signals of a Washington-backed plan to revitalize the national energy industry and reverse the exodus of companies and professionals recorded during the sanctions period.

The arrival of personnel and machinery comes after recent agreements, such as the one reached between Eni and Petróleos de Venezuela S.A. to expand operations in the Orinoco Oil Belt, where Weatherford will collaborate on extraction work. Baker Hughes, for its part, signed an agreement with PDVSA, Lindsayca and Fulcrum LNG to recover gas infrastructure, while Halliburton and SLB are maintaining open positions and activities at operating centers in Anaco, Maturín, Maracaibo and Caracas.

This operational deployment starts from reduced levels, constrained by the small number of drilling rigs active in the country. The sector, in turn, sits within an economic outlook in which the International Monetary Fund estimated real GDP growth in Venezuela of 4.0% for 2026 and 6.0% for 2027, although these figures are estimates rather than consolidated data.

On the outlook for employment and investment, the official sector projects significant volumes of resources for the coming years with the aim of expanding jobs in the hydrocarbons area, according to the daily El Nacional. However, various industry sources warn that consolidating these investments requires regulatory stability and clear rules to ensure a sustained impact on the local economy.