PDVSA Adjusts Strategy to Produce Gas in the Gulf of Venezuela – Prensa Latina

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Petroleos de Venezuela (PDVSA, in Spanish) together with the Italian transnational Ente Nazionale Idrocarburi (ENI) have adjusted their strategy to strengthen the production of gas.

As reported on Thursday on the website of the South American company, the rector of PDVSA and Venezuelan Minister for Petroleum and Mining, Eulogio Del Pino, and the president of ENI, Claudio Descalzi, yesterday met and agreed to intensify the exploitation of Campo Cardon IV in the Gulf of Venezuela.

They also agreed to continue the development of the infrastructure that produces more than 500 million cubic feet of natural gas and 15,000 barrels per day of condensed gas in its first phase.

A review will also be held of the bilateral agreements signed in 2010 on the exploitation of hydrocarbons and the investment development plan of the joint venture.

According to Descalzi, 950 million cubic feet of gas could be produced over the next 22 months and oil production could be raised to 38,000 barrels per day.