Venezuela signs strategic gas agreements with Repsol [Yahoo! Finance]
REPSOL SA SP/ADR (REPYY)
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Source: Yahoo! Finance
Venezuela has formalised “strategic agreements” with Spanish energy company Repsol to boost gas production, according to a statement released by the South American nation's government, reported Reuters During a broadcast on state television, acting Venezuelan President Delcy Rodriguez announced that the agreements aim to enhance gas production and facilitate future exports at Cardon IV. This block is a joint operation shared equally by Repsol and Italian oil and gas operator Eni. Located in the Gulf of Venezuela, the Cardon IV concession includes the Perla field, reputed to be one of the largest offshore gas reserves in Latin America. Presently, Perla is said to be producing 580 million cubic feet per day (mcf/d). Production from the Perla gas field began in July 2015. The field has an estimated 17 trillion cubic feet of gas in place, which equates to 3.1 billion of barrels of oil equivalent, with further potential. Rodriguez stated that the agreements with Repsol would also
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