Oil companies Eni and Repsol are evaluating the incorporation of external investors into the Perla natural gas field, off the coast of Venezuela, to finance its development. Each holds 50% of the joint venture.
The oil companies Eni SpA and Repsol SA are studying the entry of external investors into the Perla natural gas field, located off the coast of Venezuela, according to sources familiar with the operation cited by Bloomberg Línea. Both companies hold 50% of the joint venture that operates the field and are considering selling part of their stakes to obtain additional funds to finance the development of the project.
The same sources, who requested anonymity due to the confidential nature of the information, did not specify the percentage that the companies would be willing to transfer nor the amount of the operation. Eni and Repsol have declined to comment.
The potential sale of stakes comes amid pressure from the U.S. Administration to unlock Venezuela's energy reserves. The country has significant gas reserves but does not export them.
Last month, Venezuela and the United States announced partnerships with major oil companies, including Chevron Corp., GE Vernova Inc., and Eni, to boost crude production.
In parallel, Eni and Repsol signed an agreement with Caracas to begin exporting gas from the country by the end of 2031. The aim is to reactivate a project that has been stalled for years and to expand production at the Perla field in the Gulf of Venezuela. The companies expect to more than double current production and export the fuel as liquefied natural gas from a floating terminal.
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