CARACAS/HOUSTON, Nov 6 (Reuters) - Venezuela's state-owned PDVSA is in talks with local and foreign oilfield firms to hire equipment and services that would allow it to revive depressed output, sources close to the meetings said, after the U.S. relaxed sanctions on the country.
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PDVSA wants to revive 27,966 wells - mostly located at Venezuela's oldest production region in Zulia state - that could add 1.7 million barrels per day (bpd), according to a July presentation by oil minister and PDVSA CEO Pedro Tellechea.
However, the spectacular increase from this year's output of 780,000 bpd could take up to a decade of hard work and sustained investment by PDVSA and partners, according to experts.
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PDVSA also is negotiating specialized oilfield equipment with companies in Turkey, whose President Tayyip Erdogan has met repeatedly with Maduro in recent years, another source said.
https://www.reuters.com/business/ene...ng-2023-11-06/
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