Eni has signed a programmatic agreement with the Ministry of Hydrocarbons and PDVSA to relaunch oil activities, specifically Junin-5 (PDVSA 60%, Eni 40%), located in the Orinoco Belt, a heavy oil field containing 35 billion barrels of certified oil in place.
In Venezuela, Eni is also involved in the development of natural gas projects. Specifically, Eni operates the Perla field in the Cardón IV license, the largest offshore gas field discovered in Latin America, located in the Gulf of Venezuela, through the company “Cardón IV”, jointly owned by Eni (50%) and Repsol (50%).
Cardón IV recently signed the Sustainability Agreement, which aims to sustainably continue and relaunch Perla production, increasing volumes destined for the domestic market and creating an outlet for future exports.
Eni also holds a stake in the joint venture PetroSucre (PDVSA 74%, Eni 26%), which operates the Corocoro offshore field and a stake in Supermetanol, a petrochemical company active in the production of methanol.
Eni has been present in Venezuela since 1998. The Company holds six mining licenses in the country, located offshore in the Gulf of Venezuela and the Gulf of Paria, and onshore in the Orinoco region. In 2025, Eni’s hydrocarbon production in the country amounted to 64,000 boe/d, mainly from the Perla gas field, which represents approximately 35% of the country’s total gas consumption.
