Volgaburmash JSC and PDVSA Agree to Expand Cooperation

Moscow, May 6, 2026

Volgaburmash JSC has held productive talks with the head of the Moscow representative office of PDVSA, Venezuela’s state‑owned oil and gas company. The discussions represent a significant step forward in strengthening the strategic partnership between the two organisations.

Key agreements were reached to expand collaboration in the supply of drilling tools. A central focus of the talks was adapting Volgaburmash JSC’s products to meet the specific operating conditions found at Venezuelan oil fields.

A major outcome of the meeting was the confirmation of a planned visit by a PDVSA delegation to Volgaburmash JSC’s production facility in Samara. During the visit, the Venezuelan representatives will:

review the full production cycle for drill bits and components;

tour the company’s testing rigs and laboratories;

hold working meetings with technical specialists and engineers;

discuss the details of potential joint projects.

This cooperation with PDVSA aligns with Volgaburmash JSC’s broader strategy to strengthen its international market presence. The company already supplies equipment to customers across the CIS region, the Middle East, and Africa, and now sees Venezuela as a key growth opportunity in Latin America.