US pushes for quickest fixes to boost Venezuela oil output

THE US IS in talks with Chevron, other crude producers and the world’s biggest oilfield service providers about a plan to quickly revive output in Venezuela at a fraction of the estimated $100 billion cost for a complete rebuilding.

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Oilfield contractors such as SLB, Baker Hughes and Halliburton would focus their initial efforts on repairing or replacing damaged or outdated equipment and refreshing older drilling sites, according to senior administration officials.

The idea is that with limited investment, Venezuela could boost production by several hundred thousand barrels over the short term, the people said.