Eneva partners with Halliburton in Venezuela and refinances debt

Brazilian energy firm Eneva signed a memorandum of understanding with US services provider Halliburton to identify and pursue oil and gas opportunities in Venezuela. Halliburton, which has operated in Venezuela for almost 90 years, will contribute its local operational infrastructure, technical knowledge, and technology to evaluate projects alongside Eneva.

Eneva's board also authorised executive leadership to participate in the sixth permanent offer bidding cycle held by Brazil's oil and gas regulator ANP, scheduled for 7 October 2026. The approval allows management to conduct legal acts and complete transactions tied to the auction.

Alongside these moves, Eneva concluded the first step of a BRL 2.4 billion liability management transaction by selling treasury debentures from its 12th issue to financial institutions. Following a debenture holders meeting on 22 September 2026, the notes carry an annual interest rate of IPCA plus 8%, mature on 15 August 2036, and will be amortised in three annual instalments starting in the eighth year.

Eneva used part of the proceeds to prepay and cancel about BRL 1.4 billion in debentures across three earlier issuances, reserving the remainder for further debt prepayments. On a pro-forma basis, the company expects the refinancing to extend its average debt maturity from about two years to nine years, lower borrowing costs, and raise the share of its consolidated debt tied to IPCA from 86% to 92%.