On Tuesday, officials from Petróleos de Venezuela, S.A. (PDVSA) and Italian oil company Ente Nazionale Idrocarburi (ENI) held a meeting to advance in the implementation of joint business projects, mainly the growth of free gas production in Cardón IV, located in Perla Field , in the Gulf of Venezuela.

President of PDVSA Eulogio Del Pino, accompanied by Vice President of Gas César Triana, highlighted the strategic importance of this meeting with ENI CEO Claudio Descalzi, given that today Perla Field produces more than 540 million cubic feet of natural gas and 15,000 barrels of condensate per day.

PDVSA and ENI talked about different financial, commercial and technical issues in order to move forward with the next phases of Cardón IV Project, which has a production goal of 1.2 billion cubic feet of gas and 37,000 barrels of condensate.

Del Pino spoke about current opportunities to increase field production, meet internal market needs and boost the petrochemical industry as well as gas exports to Latin American and the Caribbean markets including Aruba, Colombia, and Trinidad and Tobago.

Descalzi considered the possibility of using the latest technology for the export of gas, such as the installation of a Floating Liquefied Natural Gas unit (FLNG).

Triana said the joint work will support investment in other businesses, such as the development of Junín 5 Field in the Hugo Chávez Orinoco Oil Belt, through the joint venture Petrojunín.

PDVSA reaffirms its commitment with strategic commercial partners to increase the production and export of hydrocarbons and the development of the Nation.

About PDVSA

Petróleos de Venezuela S.A., the state-owned corporation of the Bolivarian Republic of Venezuela, is responsible for the efficient, profitable, and dependable exploration, production, refining, transport and commerce of hydrocarbons. This company is deeply committed to environmental protection and its main objectives are to foster the harmonic development of the country, to guarantee sovereignty of national resources, to increase endogenous development and to serve and benefit the Venezuelan people, who correspond to their share of the country’s national wealth.

About ENI

Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.