The joint venture between Eni and Repsol is moving forward with its plans to increase gas production at the Cardón IV field, one of Venezuela’s main gas assets . The initial goal is to raise the volume to 645 million cubic feet per day, up from the current 580 million.
A progressive increase in gas production
According to project manager Gonzalo Antonio Carrillo, the growth will be phased in. First, the companies will aim for a moderate increase in production before moving on to more ambitious phases.
In addition, the plan includes new drilling and improvements to the existing field infrastructure. These actions will optimize the field’s operational performance and sustain higher production levels in the medium term.
Infrastructure and efficiency: keys to development
For her part, Venezuela’s Vice Minister of Gas, Cindy Rondón, emphasized the need to accelerate the recovery of the country’s gas facilities. In this context, she highlighted the importance of implementing projects aimed at improving the management of associated gas.
Likewise, the authorities believe that these initiatives must be implemented in the short and medium term to guarantee the stability of the energy supply .
PDVSA projects increased production and exports
Meanwhile, PDVSA representatives announced new goals for the oil sector. The state-owned company plans to increase crude oil exports to 1.06 million barrels per day, while fuel shipments could reach 134,000 barrels per day by the end of the year.
Similarly, the company maintains its long-term goal of recovering total production to 3 million barrels per day. This momentum is supported by the recent rebound in exports, which exceeded one million barrels per day in March for the first time in several months.
A context of regulatory adjustments
Finally, the development of Venezuela’s energy sector is also progressing on the regulatory front. Authorities continue to work on regulations linked to a broader oil reform, aimed at strengthening production and attracting investment.
In this scenario, the increase in gas production at Cardón IV is positioned as a relevant step within the country’s energy strategy.
Source: Reuters
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