What is the main objective of SLB's new agreement with PDVSA?

The main objective of SLB's agreement with PDVSA is to help modernize and revive Venezuela's oil and gas sector through a long-term collaboration covering exploration, field development, and production — with a central focus on digital transformation using connected data, predictive models, and AI-driven workflows to improve efficiency and accelerate decision-making.

Why does SLB believe Venezuela's oil sector needs technology and digital integration?

SLB believes Venezuela's oil and gas sector has substantial resource potential, but realizing that potential requires technology, digital integration, and long-term talent development — a view underscored by years of under-investment and sanctions that have hindered output and operational capability.