Eni and Repsol Target Increased Gas Output at Venezuela’s Cardon IV Field
Efforts to Boost Production and Overcome Infrastructure Challenges
By Deisy Buitrago
Production Goals at Cardon IV Gas Field
CARACAS, April 27 (Reuters) - Spain's Repsol and Italy's Eni are seeking to increase production at Venezuela's Cardon IV gas field to 645 million cubic feet per day, the manager of the project told an oil conference in Caracas on Monday.
The field currently produces about 580 million cubic feet per day, manager Gonzalo Antonio Carrillo told the Venezuela Energetica conference. He did not say when the companies hope to reach their new goal.
Step-by-Step Expansion Strategy
“We’re going to move forward step-by-step. The first step will be to ramp up slightly to 645 (million cubic feet per day)," Carrillo said, adding the companies' next step would be to drill more and improve infrastructure at the field.
Venezuela’s Infrastructure and Regulatory Hurdles
Need for Infrastructure Recovery
In her own presentation, Venezuela's vice minister for gas Cindy Rondon said the country needed to speed up repairs to gas infrastructure.
Short and Medium Term Solutions
“We have to speed up the recovery of infrastructure. We need to carry out projects to optimize the handling of associated gas," she said. "These are solutions that need to be delivered in the short and medium term.”
Ongoing Regulatory Developments
Meanwhile, an official from state oil company PDVSA said regulations tied to a sweeping oil reform law were still being worked on.
(Reporting by Deisy Buitrago, writing by Julia Symmes Cobb)
