{"id":"eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","canonicalSlug":"eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","url":"https://wellficent.com/en/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","language":"en","title":"Eni relaunches heavy oil production operations at Junin-5 field in Venezuela Orinoco Belt","summary":"Eni initiates field operations as sole operator under a production participation contract, planning a multi-year ramp-up to 200,000 barrels per day alongside Perla gas developments.","body":["Eni SPA officially announced the operational relaunch of production activities at the supergiant onshore heavy oil field Junin-5, located in the prolific Orinoco Belt of Venezuela. Field operations commenced less than two months after the formal signing of the Hydrocarbon Productive Participation Contract, known as the CPPH, executed on 2 September 2026. Under the approved regulatory framework, Eni acts as the designated sole operator with comprehensive technical, operational, financial and commercial management responsibilities. This direct operatorship allows the company to implement modern reservoir engineering practices and recovery technologies across existing and prospective well pads.","The initial operational scope prioritises immediate well intervention and infrastructure restoration across existing field assets. Engineering teams are mobilising workover rigs to reactivate idle and suspended production wells while upgrading surface gathering facilities, multiphase pumping stations and electrical distribution networks. Phase 1 of the development plan establishes an operational trajectory designed to ramp up field production to approximately 200,000 barrels per day by 2028. This output expansion will be delivered through a systematic combination of existing well workovers, modern artificial lift optimisations and the drilling of new development wells.","In parallel with onshore heavy oil developments, Eni reaffirmed its strategic commitment to Venezuela's offshore natural gas sector through Cardon IV, a joint venture company owned in equal 50 percent shares by Eni and Repsol. Cardon IV operates the giant Perla field within the Cardon IV licence in the Gulf of Venezuela, which represents the largest offshore gas field discovered in Latin America. The operating partnership recently concluded a Sustainability Agreement aimed at securing long-term gas deliverability for domestic power generation and establishing commercial conditions for prospective liquefied natural gas export opportunities.","Eni's operational footprint in Venezuela reflects an integrated resource management model that balances heavy crude extraction with natural gas supply reliability. Natural gas extracted from offshore operations plays a vital role in meeting domestic power generation demand, while the revitalization of Junin-5 supports regional crude supply and associated energy exports. The operator will progress phased capital deployments under strict compliance with applicable environmental frameworks, focusing on emissions reduction through flare minimization and enhanced energy efficiency across processing facilities."],"keyPoints":[],"sections":[],"text":"Eni relaunches heavy oil production operations at Junin-5 field in Venezuela Orinoco Belt\n\nEni initiates field operations as sole operator under a production participation contract, planning a multi-year ramp-up to 200,000 barrels per day alongside Perla gas developments.\n\nEni SPA officially announced the operational relaunch of production activities at the supergiant onshore heavy oil field Junin-5, located in the prolific Orinoco Belt of Venezuela. Field operations commenced less than two months after the formal signing of the Hydrocarbon Productive Participation Contract, known as the CPPH, executed on 2 September 2026. Under the approved regulatory framework, Eni acts as the designated sole operator with comprehensive technical, operational, financial and commercial management responsibilities. This direct operatorship allows the company to implement modern reservoir engineering practices and recovery technologies across existing and prospective well pads.\n\nThe initial operational scope prioritises immediate well intervention and infrastructure restoration across existing field assets. Engineering teams are mobilising workover rigs to reactivate idle and suspended production wells while upgrading surface gathering facilities, multiphase pumping stations and electrical distribution networks. Phase 1 of the development plan establishes an operational trajectory designed to ramp up field production to approximately 200,000 barrels per day by 2028. This output expansion will be delivered through a systematic combination of existing well workovers, modern artificial lift optimisations and the drilling of new development wells.\n\nIn parallel with onshore heavy oil developments, Eni reaffirmed its strategic commitment to Venezuela's offshore natural gas sector through Cardon IV, a joint venture company owned in equal 50 percent shares by Eni and Repsol. Cardon IV operates the giant Perla field within the Cardon IV licence in the Gulf of Venezuela, which represents the largest offshore gas field discovered in Latin America. The operating partnership recently concluded a Sustainability Agreement aimed at securing long-term gas deliverability for domestic power generation and establishing commercial conditions for prospective liquefied natural gas export opportunities.\n\nEni's operational footprint in Venezuela reflects an integrated resource management model that balances heavy crude extraction with natural gas supply reliability. Natural gas extracted from offshore operations plays a vital role in meeting domestic power generation demand, while the revitalization of Junin-5 supports regional crude supply and associated energy exports. The operator will progress phased capital deployments under strict compliance with applicable environmental frameworks, focusing on emissions reduction through flare minimization and enhanced energy efficiency across processing facilities.","category":"energy","region":"world","topics":["oil","gas"],"eventDate":"2026-10-28","eventDateBasis":"source-event-or-period","publishedAt":"2026-11-02T14:43:38Z","modifiedAt":"2026-11-02T14:43:38Z","publicationBasis":"first-publication","preparedAt":"2026-11-02T14:43:27Z","sourcePublishedAt":"2026-10-28","translatedAt":null,"sources":[{"url":"https://www.eni.com/en-IT/media/press-release/2026/10/eni-relaunches-production-junin-5-venezuela.html","name":"Eni","checkedAt":"2026-11-02","publishedAt":"2026-10-28"}],"translations":{"en":"https://wellficent.com/en/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","tr":"https://wellficent.com/tr/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","ar":"https://wellficent.com/ar/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","fr":"https://wellficent.com/fr/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","es":"https://wellficent.com/es/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","ru":"https://wellficent.com/ru/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026","pt":"https://wellficent.com/pt/news/eni-junin-5-venezuela-relaunch-cardon-perla-oct2026"},"corrections":[],"locations":[],"type":"news","classification":{"version":"1","dataKinds":["project-update"],"geographies":[{"role":"economic-scope","countryCode":"VE","subdivisionCode":null}],"evidenceBasis":["reported-observation","plan"],"measurementPeriod":null}}