Chevron, ENI among firms set to sign energy pacts in Venezuela, sources say

The deals are not linked to the controversial Caracas-Washington deal that gives the U.S. access to 17 large oilfields. Most of the pacts relate to project expansions that have been in negotiation with Venezuela's oil ministry and state oil company PDVSA as part of the migration of dozens of energy contracts to new terms under a sweeping oil reform approved in January.

Still, the flurry of signings represents the latest effort by private companies and governments to revive Venezuela's struggling oil industry, which currently produces about 1.25 million barrels per day, far short of its 3 million barrel-per-day peak reached in the late 1990s.

Most oil majors have eschewed major investment in the country for years, retreating after a 2007 nationalization. The industry has also faltered due to lack of investment, mismanagement and sanctions imposed by the U.S., which is now spearheading a $100 billion investment plan that officials say will double output in coming years.