Venezuelan Gas Processors Association Predicts Maximum Production from Repsol and Eni After Agreement
The Venezuelan Association of Gas Processors (AVPG) predicted this Friday in statements to EFE that production in the field operated by Spain's Repsol and Italy's Eni will reach its maximum as a result of the agreement signed with the government of acting president of Venezuela, Delcy Rodríguez, on Thursday. The European companies operate the Perla gas field, one of the largest offshore in Latin America, and currently produces 585 million cubic feet, 48.7% of its potential, which is about 1,200 million, according to AVPG.
TL;DR
- The Venezuelan Association of Gas Processors (AVPG) predicts maximum production from the Perla gas field, operated by Repsol and Eni.
- This prediction follows an agreement between the European companies and the Venezuelan government.
- The Perla field is one of Latin America's largest offshore gas fields, currently operating at 48.7% of its 1,200 million cubic feet potential.
- The AVPG describes the agreement as excellent news and a key project for Venezuela, hoping for more such agreements to increase gas production and monetization.
- Currently, Perla's production supplies the internal market in Zulia, but Repsol and Eni have always intended to export the gas.
- The Venezuelan government aims to ensure national supply and advance Venezuela's role as a gas exporter.
- Repsol had previously announced preparations to resume daily operations in Venezuela after obtaining necessary licenses.
- Venezuela has opened its oil industry to private and foreign capital following a reform of its Hydrocarbons Law, coinciding with improved relations with the US.
- US energy officials have visited Caracas, establishing an energy partnership and facilitating agreements with companies like Shell.