Spanish energy company Repsol reported that gas production in Venezuela remains at 580 million cubic feet per day (mccd) in the field it operates with Italian company ENI.
Company executives indicated that production has remained stable, although they are evaluating moving towards a second phase of this production project.
The plans include new drilling and improvements to existing infrastructure to increase production capacity.
The project would aim to reach approximately 645 million cubic feet of gas per day, which would represent an increase compared to current levels and would allow for an increase in supply to the Venezuelan domestic market.
Repsol has signed agreements with the Government, through Pdvsa, to increase the production of oil and natural gas.
One of the projects aims to stabilize gas production at Cardón IV, as well as boost production at Petroquiriquire. Another project aims to evaluate the potential of the oil and gas fields in the Horcón area of Zulia state.
