The Venezuelan Association of Gas Processors (AVPG) estimates that Repsol and Eni's production will reach maximum levels as a result of the agreement signed with the government of Venezuela's interim president, Delcy Rodríguez, on Thursday.
European companies operate the Perla gas field, one of the largest offshore fields in Latin America, and it currently produces 585 million cubic feet, 48,7% of its potential, which is about 1.200 billion, according to the AVPG.
However, the president of the association, Luis Terrero, told EFE that right now it is difficult to calculate how long it would take to bring production to its maximum level because the details of the negotiation are still unknown.
In any case, he assured that the development of what he described as a "key project" for Venezuela is "excellent" and "extraordinary" news, and hopes that this type of agreement will continue to "produce and monetize more gas molecules."
Terrero indicated that, for the moment, what is produced in the Perla field is supplied by the state-owned Petróleos de Venezuela (PDVSA) to the internal market of the state of Zulia (northwest), bordering Colombia, but noted that both European companies, which operate together in the Cardón IV company, "have always had the intention of exporting that gas."
The acting president celebrated again this Friday The agreement with Repsol and Eni, which aims to guarantee supply "for national development" and to "continue advancing on the path" of a gas-exporting Venezuela.
In February, Repsol announced that it was preparing to "restore and resume" daily operations in Venezuela after receiving the licenses that allow it to operate in the Latin American country.
Repsol's CEO, Josu Jon Imaz, said at the time that the first contribution would be to continue supplying gas, which is needed for the Venezuelan electrical system, and at the same time increase its production.
