Baker Hughes joins Venezuela Energy Week as silver sponsor

Baker Hughes will sponsor Venezuela Energy Week 2027 at the Silver level, highlighting the oilfield services company’s renewed focus on Venezuela’s upstream market. The move comes as Venezuela seeks to lift crude output toward 1.5 million barrels per day by 2027 and court more international investment.

Why it matters: - Baker Hughes’ sponsorship underscores growing interest in Venezuela’s upstream sector as the country pushes to raise production and attract international operators and service companies. - The company’s role adds credibility to VEW 2027 as a platform for investment, production technology and oilfield services discussions. - Venezuela’s output target of about 1.5 million barrels per day by 2027 depends heavily on the kind of artificial lift and field support Baker Hughes supplies.

What happened: - Baker Hughes joined Venezuela Energy Week 2027 as a Silver sponsor. - VEW 2027 is scheduled for Feb. 22-25 at the Simon Bolivar Convention Center in Caracas. - The event will bring together international operators, service companies and investors to discuss upstream opportunities in Venezuela’s oil and gas sector.

The details: - Baker Hughes operates Venezuela’s largest fleet of rotating and artificial lift equipment, which supports production from mature fields. - The company also runs hundreds of gas turbines and power generation units across Venezuelan production sites. - Those power systems provide on-site electricity for field operations in remote areas. - CEO Lorenzo Simonelli has described Venezuela as a significant long-term revenue opportunity. - Baker Hughes continues to work with licensed producers in Venezuela. - Venezuela is targeting crude production growth from about 1.2 million barrels per day toward 1.5 million barrels per day by 2027. - More than 90% of operating oil wells worldwide rely on artificial lift to keep producing. - Baker Hughes operates more than 47,000 electrical submersible pumps globally. - The company says it has led the artificial lift sector for decades. - Baker Hughes has operations in more than 120 countries and employs more than 68,000 people. - Its business spans drilling, completions, production optimization and gas processing. - At its previous Venezuelan peak in 2012, Baker Hughes generated about $500 million in revenue in the country. - More information is available at Venezuela Energy Week. - The event’s social media page is Venezuela Energy Week on LinkedIn.

Between the lines: - Baker Hughes’ sponsorship signals that major oilfield-services companies see room for commercial growth in Venezuela if the investment framework keeps improving. - The company’s installed base in Venezuela suggests VEW 2027 is as much about operational continuity as new market entry. - The emphasis on mature-field technology points to Venezuela’s need for equipment and expertise that can sustain production, not just expand it.

What’s next: - VEW 2027 is expected to feature Baker Hughes’ view on how to support and accelerate Venezuela’s mature assets. - The event will likely be used by operators and investors to gauge whether upstream momentum can translate into higher output and new service contracts. - Baker Hughes’ role may also help shape the tone of wider industry discussions ahead of Venezuela’s next phase of production growth.

The bottom line: - Baker Hughes’ Silver sponsorship is a clear signal that the company sees Venezuela as a meaningful upstream opportunity as the country works to rebuild output and attract capital.