An article summarized by Quartz:

Chevron and Halliburton are reportedly close to major deals that could commit billions of dollars to Venezuela’s oil industry. Chevron is negotiating to add two heavy-oil fields to its Venezuelan operations, while Halliburton is discussing providing equipment and oil-field services. Several energy executives, along with Energy Secretary Chris Wright, are expected to travel to Caracas to potentially finalize production agreements.

The investments could require billions of dollars because many Venezuelan oil fields have never been fully developed and lack basic infrastructure and reliable power. Chevron is currently the only major U.S. oil company with an active presence in Venezuela, while ExxonMobil and ConocoPhillips are holding off as they continue seeking compensation for assets nationalized by the Venezuelan government in 2007.

The talks are separate from the Trump administration's reported effort to secure a direct U.S. government interest in 17 major Venezuelan oil fields containing an estimated 90 billion barrels of proven reserves. President Trump has pushed American energy companies to invest in Venezuela as part of a broader strategy to increase Western Hemisphere oil production, strengthen U.S. energy security, and gain greater access to Venezuela's massive oil reserves.

For the article: https://qz.com/chevron-halliburton-venezuela-oil-deals-082826