Italy's ENI discusses projects with Venezuela oil company

(AGI) Caracas, Dec 3 - Joint projects in Venezuela werediscussed at a meeting in Caracas between Petroleos deVenezuela President Eulogio Del Pino and the CEO of Italy's oiland gas company ENI, Claudio Descalzi. A statement said theywould share the development of the Perla and Junin-5 oilfields, two of the largest in the world. Mr Descalzi alsopresented several plans to increase the efficiency and value ofjoint projects. Global energy news was discussed, especiallyevents which have hit the world oil market. ENI has beenoperating in Venezuela since 1998. It is taking part in

(AGI) Caracas, Dec 3 - Joint projects in Venezuela werediscussed at a meeting in Caracas between Petroleos deVenezuela President Eulogio Del Pino and the CEO of Italy's oiland gas company ENI, Claudio Descalzi. A statement said theywould share the development of the Perla and Junin-5 oilfields, two of the largest in the world. Mr Descalzi alsopresented several plans to increase the efficiency and value ofjoint projects. Global energy news was discussed, especiallyevents which have hit the world oil market. ENI has beenoperating in Venezuela since 1998. It is taking part indeveloping the Junin-5 heavy oil block, in the Faja delOrinoco, which produces 35 billion barrels of locally certifiedoil equivalent. ENI is also working with Cardon IV which isrunning the giant gas field of Perla, where reserves have beenestimated at around 480 billion cubic metres of gas (3.1billion barrels of oil equivalent). Perla's stakeholders, afterthe participation of Pdvsa in the project, will be: Pdvsa (35pct), ENI (32.5 pct) and Repsol (32.5 pct). ENI holds a shareof Petrosucre, which is the company running the offshore fieldof Corocoro (Pdvsa 74 pct, ENI 26 pct). ENI's net production inVenezuela, from the Junin and Corocoro oil fields is almost10,000 barrels of oil a day. (AGI).