Oil Servicers Looking for Output Boost in Venezuela, PDVSA Says
- Production slumped as oil-service companies pull back
- PDVSA president sees 200,000 barrels a day of new output
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The world’s largest oilfield services providers are making plans to help boost output in Venezuela, according to the president of the country’s state-run oil company.
Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. are among the companies that have presented plans to increase production, Eulogio Del Pino said in an interview with PDVSA TV. Petroleos de Venezuela SA, or PDVSA, has "dramatically reduced" production costs to a range of $8 to $9 per barrel, he said.