Venezuela’s energy minister and president of oil company PDVSA Eulogio Del Pino met with Claudio Descalzi, CEO of Italian oil company Eni to agree on the necessary conditions to develop infrastructure to produce more gas and condensate from Cardon IV block at the Gulf of Venezuela.
The Cardon IV block contains the giant Perla field, from which Eni, together with Repsol, started producing in July 2015. The field, located in the Gulf of Venezuela, 50 kilometers offshore, will be developed in three phases.
According to PDVSA, production there is 500 million cubic feet of gas and 15.000 barrels of condensate per day in its Phase 1.
In a statement issued on Thursday, PDVSA said that joint actions defined by both oil companies would determine the resources to commit to the development of this project in its Phase 2. Construction contracts will be signed after all terms have been established, PDVSA said.
Eni CEO has been quoted as saying that the goal of producing up to 950 million cubic feet of natural gas could be met within 22 months, with a subsequent boost to 1.200 million of cubic feet of gas and 38.000 barrel of condensate per day.
The gas from Perla is mainly used by PDVSA for the domestic market.
Offshore Energy Today Staff