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May 13 (Reuters) - Venezuela's government on Wednesday said that it would restructure external debt for the nation and for state-run oil producer PDVSA PDVSA.UL, aiming to restore access to financing and attract foreign investment.

Venezuela is one of the world's largest sovereign default cases, with it and PDVSA at about $60 billion in defaulted bonds outstanding.

Analysts estimate total liabilities, including arbitration awards, could reach $150 billion.

The South American nation has missed payments on its debt abroad since 2017, blaming financial sanctions. Last week, the U.S. Treasury issued a license for firms to aid in a potential Venezuelan debt restructuring, though further actions would be needed for the overhaul to be carried out.