SLB Readies Rapid Expansion in Venezuela

SLB SLB -0.34%decrease; red down pointing triangle plans to quickly scale up operations in Venezuela, echoing competitor Halliburton’s view that oilfield-service companies are ready to expand in the country.

Chief Executive Olivier Le Peuch said Friday that SLB is well-positioned to expand its business in Venezuela, where it is currently the only active service provider and does work for Chevron. Historically, he added, SLB was the country’s largest service provider.