Chevron plans more than $7 billion of Venezuelan investment over five years, adding Orinoco Belt acreage and targeting more than 600,000 bbl/d of combined JV production at costs below $20 per barrel. The expansion creates a significant multi-year OFS opportunity across drilling, heavy-oil production, artificial lift, pipelines, facilities, automation and infrastructure while highlighting the lower geopolitical risk associated with the U.S. “Safe Barrel.”
Chevron Plans $7 Billion Venezuela Expansion, Targets 600,000 Bbl/d
