Venezuela, Eni indicators settlement for 35 billion barrels of oil | EUROtoday

Listen to the audio model of the article

The President in control of the Bolivarian Republic of Venezuela, Delcy Rodriguezwithin the presence of the Minister of Hydrocarbons of the Venezuelan Government, Paula Henao, and the CEO of the state firm Pdvsa, Hector Obregonmet the CEO of Eni immediately in Caracas, Claudio Descalzi. Eni’s CEO up to date the president in cost on Eni’s present actions within the nation and illustrated future prospects and alternatives.

Eni has signed a programmatic settlement with the Minister of Hydrocarbons and with Pdvsa for revive oil manufacturingspecifically of Junin-5 (PDVSA 60%, Eni 40%), situated within the Orinoco Faja, a heavy oil discipline that comprises 35 billion barrels in place certificates.

In Venezuela, Eni can be concerned within the growth of tasks pure fuel. In specific, Eni operates by way of the Cardon IV firm, equally owned by Eni (50%) and Repsol (50%), the Perla discipline, within the Cardón IV license, the most important offshore fuel discipline found in Latin America. Recently Cardón IV signed the Sustainability Agreement which plans to proceed in a sustainable method and relaunch Perla’s manufacturing, growing the volumes destined for the home market and defining the situations for extra future fuel exports. Eni additionally holds a stake within the joint firm PetroSucre (Pdvsa 74%, Eni 26%) which operates the Corocoro offshore oil discipline and a stake in Supermethanol, a petrochemical firm energetic within the manufacturing of methanol. Eni is current in Venezuela dal 1998. The Company holds six mining licenses within the nation, situated offshore within the Gulf of Venezuela and the Gulf of Paria, and onshore within the Orinoco area. In 2025, Eni’s hydrocarbon manufacturing share within the nation amounted to 64 thousand boe/d, primarily coming from the Perla fuel discipline, which represents roughly 35% of the full fuel consumed within the nation.