SLB Prepares to Restart 15 Oil Rigs in Venezuela

Source Summary

Oilfield services company SLB is preparing to reactivate as many as 15 drilling rigs in Venezuela to help increase the country's crude production capacity. SLB and private equity firm Formentera Partners are pursuing separate initiatives to expand Venezuela's drilling capacity, with Formentera discussing rig imports through international service companies while SLB focuses on equipment already located in Venezuela.