SLB N.V. (NYSE:SLB) is included among the 12 Best American Oil Stocks to Buy Now.
SLB N.V. (NYSE:SLB) engages in the provision of technology for the energy industry worldwide.
SLB N.V. (NYSE:SLB) announced on June 10 that it had signed a long-term contract with Venezuela’s state oil company, PDVSA, to support the revitalization and modernization of the country’s oil and gas sector. The MoU covers cooperation across exploration, field development, production, digital enablement, and workforce training and development, as Caracas looks to rebuild output from the largest oil reserves in the world.
Venezuela’s oil sector grabbed global attention after the ouster of Nicolás Maduro earlier this year, with President Trump pushing American oil majors to invest and revive the country’s dilapidated energy infrastructure.
A key focus of the partnership is the digital transformation of the South American country’s oil and gas sector, and SLB and PDVSA will use connected data, predictive models, and AI-driven workflows to improve efficiency and fast-track decision-making.
Olivier Le Peuch, CEO of SLB N.V. (NYSE:SLB), stated:
“Venezuela’s oil and gas sector has substantial resource potential, and realizing that potential will require technology, digital integration and long-term talent development. For nearly a century, SLB people in Venezuela have stayed the course — working alongside the country’s energy sector through every cycle, bringing expertise, technology and a deep commitment to local capability. This MoU builds on that continuity and sets out a path with PDVSA to strengthen operational excellence and develop the skills that will sustain performance for years to come.”
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