Chevron has confirmed plans to expand operations in Venezuela. The company intends to invest more than $7 billion over the next five years. This investment is expected to significantly increase production.

Current production levels are set to double, reaching approximately 600,000 barrels a day. Chevron has outlined its goals for the expansion, providing some insight into its plans.

Further details on Chevron's expansion in Venezuela are available from the company's announcement, which outlines the scope of its investment and production goals.