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Three Service Majors Post 67+ Venezuela Jobs as Rigs Return

Weatherford, SLB and Baker Hughes have at least 67 combined Venezuela openings, and rigs are starting to return from a low base. Here is what it means for US field service companies.

FieldNews Staff|

Three Service Majors Post 67+ Venezuela Jobs as Rigs Return

Weatherford, SLB and Baker Hughes have at least 67 open Venezuela positions between them, and Halliburton says it is expanding its talent network there. The tally is ours, based on figures in a Reuters report via BOE Report: Weatherford has at least 20 openings (Anaco and Maturin), Baker Hughes has a dozen (Maracaibo), and SLB has 35 (Anaco, Maturin and Caracas, some posted about six months ago). Weatherford is seeking operation supervisors, drilling specialists and engineers.

The hiring follows a Washington-backed $100 billion oil revival plan. Venezuela pumps about 1.2 million bpd now, and consultancy Welligence Energy Analytics expects about 1.5 million bpd by late 2027. Through the end of next year, deployments should focus mostly on workover rigs to reopen and repair wells at mature fields.

What It Means for Subcontractors

  • Labor draw (our inference): Source does not say US basins are losing workers to these postings. But the roles are supervisors, drilling specialists and engineers, the experienced tier US contractors also compete for. Expect pressure on retention for those positions first.
  • Rig count signal: Baker Hughes data shows only two active rigs in Venezuela this month. Chevron is expected to activate four soon, which would take the count to six if nothing else changes. Check the Venezuela line in the next Baker Hughes rig count release for the first real movement. The source does not give a release date.
  • Equipment is not coming from the active US fleet: Patterson-UTI is shipping components for 10 older rigs of a type its CEO says it has not used in the US in about 15 years. Welligenceโ€™s โ€œthis will take timeโ€ caution applies, so donโ€™t plan staffing around a fast ramp.

Sources

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