Chevron has signed a landmark deal to significantly expand its operations in Venezuela, with CEO Mike Wirth stating that the company's patience in the region has paid off. The agreement will see Chevron invest more than $7 billion over the next five years, targeting a doubling of its production to around 600,000 barrels per day at an estimated cost of less than $20 per barrel. This move gives Chevron a significant head start over rivals like ExxonMobil and ConocoPhillips, who had previously left the country.