Operator Eni and 50:50 partner Repsol have signed a sustainability agreement for the Cardón IV license in the Gulf of Venezuela.
This includes Perla, claimed by Eni to be the largest offshore gas field discovered in Latin America (reportedly 17 Tcf in place). Perla was discovered 50 km offshore in the mid-1970s and further appraised by the joint venture in 2009.
The main goals of the agreement are to sustainably continue and relaunch Perla production, increasing volumes for Venezuela’s domestic needs but also creating an outlet for future exports.
Eni is also a partner to PDVSA in the PetroSucre joint venture, containing the Corocoro offshore field.
In February, media outlets reported that Venezuela plans to grant more oil exploration and production blocks to Repsol and Chevron in a move that is designed to help foreign operators rebuild the country’s energy sector.
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