This Friday, the American oil services company Schlumberger (SLB) decided to halt its operations in the Petroindependencia joint project, awaiting developments expected for May 27. This decision has had immediate effects on the operations of other contractor companies, such as Venezuela’s Ensing, whose EDV-43 drilling rig has been forced to stop activities.
The EDV-43 rig operated under drilling and well completion efforts in the field, essential activities for maintaining oil production in the region. The halt not only affects technical operations but also threatens to worsen the employment situation of thousands of Venezuelan workers linked directly and indirectly to the joint ventures where Chevron has stakes: Petroindependencia, Petropiar, and Petroboscan.
Currently, it is estimated that over 12,000 Venezuelan jobs depend on these partnerships. Many of these jobs are generated by national contractors providing maintenance, construction, drilling, and surface facility services. Most of these companies work closely with Chevron, which has been one of the few foreign companies to maintain a stable operational presence in Venezuela during years of crisis.
In this context, some workers in the sector have expressed their concern about the potential exit of Chevron from the country. Sources consulted by Venezuelapolitica.info indicate that Chevron’s presence has been crucial for maintaining high standards of technical, operational, and safety measures, standing in stark contrast to the critical situation of PDVSA, which currently lacks the capacity to sustain production independently.
The current political and economic landscape generates uncertainty about the future of oil operations. Concerns increase over the possible entry of foreign players like Chinese companies under unfavorable conditions for Venezuela, which many see as a significant setback in the sovereign management of energy resources.
Schlumberger’s decision to pause operations is viewed by some consulted sources as an early indicator of the risks looming over the Venezuelan oil sector.
Cehvron maintains its presence in Venezuela through three joint ventures with PDVSA: Petroboscan, Petropiar, and Petroindependencia. In Petroboscan, located in Zulia state, Chevron holds a 39.2% stake, while PDVSA retains 60.8%, focusing on heavy crude production.
Petropiar, situated in the Orinoco Oil Belt (Anzoátegui state), is one of the most significant ventures, with a 30% stake from Chevron and 70% from PDVSA, dedicated to the production and upgrading of extra-heavy crude.
Lastly, in Petroindependencia, also in the Orinoco Belt, Chevron possesses a 34% stake compared to PDVSA’s 66%. These strategic partnerships have been fundamental in sustaining part of Venezuela’s oil production, combining Chevron’s technical and operational expertise with the state ownership of resources through PDVSA.