Chevron plans to invest $7 billion in asset development in Venezuela in order to double the country's oil output from 300,000 to 600,000 barrels per day by 2031, Mazel writes. At the same time, ExxonMobil's management calls for caution in evaluating the prospects for work in the republic: according to the company's head, Darren Woods, in order to return to large projects, Venezuela will require significant fiscal and legal reforms.