SLB Expects Venezuela Revenue to Double by 2026

Houston-based oilfield services giant SLB expects its revenue in Venezuela to more than double by 2026 as international energy companies ramp up operations in the country, Banca y Negocios reported on October 23, 2026. Chief Executive Officer Olivier Le Peuch outlined the projections during a third-quarter earnings call, pointing to accelerating activity across American and European operators.

SLB sees exponential growth potential in Venezuela

Le Peuch described Venezuela as a particularly crucial growth engine for SLB during the earnings conference call. The chief executive stated that activity in the country is accelerating following more than a decade of constrained investment by international operators.

Seguimos muy entusiasmados con Venezuela. Creo que estamos viendo que la actividad va a aumentar aún más.

Olivier Le Peuch

The company noted that the current operational pickup is already translating into higher revenue streams for SLB inside the country. When questioned about the ultimate ceiling for operations, Le Peuch referenced a historical milestone of $1 billion in annual revenue previously achieved in Venezuela, indicating that management does not view that figure as a limit given the current market trajectory.

Regional investments span the Americas

Alongside the developments in Venezuela, SLB highlighted expanding activities across frontier basins in the broader American continent. Le Peuch pointed to Brazil, noting that the Pelotas basin is drawing significant attention alongside the Atlantic and equatorial margins.

The energy services firm also cited ongoing capital deployment in Guyana and Suriname. Argentina joins Venezuela as a key geographic focal point capturing new sector investments across Latin America.