Firms including Chevron, ONGC, GE Vernova on track to sign final pacts in Venezuela, sources say

U.S. ​Chevron and GE Vernova, ​India's ONGC, Italy's ‌Eni and Colombia's ​GeoPark are on track to sign final agreements ‌in Venezuela after months of negotiations to firm up energy projects in the OPEC country, four ‌sources close to the preparations said. The agreements, ‌which could be inked as early as this week, are separate from a massive Caracas-Washington pact announced last ⁠week ​for the ⁠United states to lock in a stake in ⁠17 oilfields with some 64 billion barrels of ​proved reserves, a fifth of Venezuela's total crude ⁠reserves.

Eni said is working with its Venezuelan counterparties ⁠and any ​other authorities to "support the revitalization of the country's energy sector." Chevron, GE Vernova, ⁠ONGC and GeoPark did not immediately reply to requests ⁠for ⁠comment.