SLB secures contract to modernize PDVSA oil field data

SLB (formerly Schlumberger) has secured a contract with Petróleos de Venezuela (PDVSA) to modernize and digitize the country's oil field data. The agreement focuses on organizing, updating, and consolidating industry databases that have become obsolete due to years of deterioration and technological issues, including a ransomware attack in late 2025.

Under the contract, SLB will utilize advanced technologies, including artificial intelligence, for reservoir characterization, information management, and real-time production monitoring. A key objective is to centralize petroleum information on a cloud-based platform, allowing potential investors to remotely consult data regarding oil fields to support future exploration and production operations.

This initiative addresses a long-standing lack of transparency in Venezuela's oil sector. The country has not published regular petroleum statistics for over a decade, with the last annual bulletin from the Ministry of Petroleum dating back to 2015. Currently, much of the available data relies on monthly production reports sent to OPEC, which has made it difficult to accurately assess production, refining, and export activities.