Baker Hughes Signs Two Deals to Restore and Develop Venezuela Natural Gas and Oil Infrastructure

Baker Hughes announced on Monday that it has signed two strategic agreements aimed at rebuilding and expanding Venezuela's natural gas and broader energy infrastructure, marking a significant move into a market that has been reopening to private investment under Venezuela's 2026 Hydrocarbons Law.

The first is an alliance agreement signed with state oil company PDVSA, Lindsayca, and Fulcrum LNG, Inc. focused on restoring energy infrastructure for gas production in the country. The second is a memorandum of understanding with New Stratus Energy Inc., a company active in both Venezuela and Colombia, to support the future development of in-country oil and gas resources.

The deals position Baker Hughes at the forefront of a broader commercial opening in Venezuela, where U.S. authorities and the country's interim government have been awarding contracts under a new legal framework that, for the first time, permits fully private ownership of oil and gas rights. New Stratus Energy had previously disclosed it was pursuing opportunities in Venezuela under that new regime since early 2026.