Venezuela signs 61 oil agreements, expects $76 billion in investments over five years

Venezuela is set to draw approximately $76 billion in foreign investment over the next five years to revitalize its oil sector. The recent agreements with the United States encompass 17 oilfields and plan for the deployment of 250 drilling rigs. Particularly in Zulia state, oil production has surged and is anticipated to keep growing, despite the ongoing hurdles of sanctions and underinvestment.