According to CoinMeta, Venezuelan Oil Minister Paula Enaú said to investors in Houston that Venezuela hopes to sign production sharing contracts and increase oil production from the country, which has the largest crude oil reserves in the world. Enaú stated that Venezuela currently has 916 blocks available for exploration and production. She noted that while Venezuela is known for its heavy crude oil, there are also investment opportunities in the fields of light and medium crude oil as well as natural gas. Enaú emphasized, "We need to reach these agreements in order to access these new blocks." This week, Venezuela has signed agreements with oilfield services giant Schlumberger and independent oil producer Hunt Oil, but the country hopes to attract more private investment to revitalize oil production. Over the past 20 years, Venezuela's oil production has been steadily declining. Enaú mentioned that about 140 companies attended the meeting, and the presence of investors on site demonstrated the market's interest in investing in Venezuela.