Eni and Venezuela’s state-owned oil company PDVSA have signed a new hydrocarbon production agreement covering the development of the giant Junín 5 oil field in the Orinoco Belt.
Eni signed a programmatic agreement with the Venezuelan Ministry of Hydrocarbons and the state-owned company PDVSA to relaunch oil activities, specifically at Junin-5 (PDVSA 60 per cent, Eni 40 per cent), located in the Orinoco Belt, a heavy oil field containing 35 billion barrels of certified oil in place.
