Eni signs strategic contract in Venezuela and becomes Operator of the super giant Junín-5 oil field
Venezuela, Sept. 4 -- In the presence of the Acting President of the Bolivarian Republic of Venezuela, Delcy Rodríguez, during the visit to Venezuela by U.S. Secretary of Energy Chris Wright, and in the presence of the Venezuelan Minister of Hydrocarbons, Paula Henao, the Chief Executive Officer of the state-owned company PDVSA, Hector Obregón, and Eni Chief Executive Officer Claudio Descalzi, Eni and PDVSA signed the "Contrato de Participación Productiva de Hidrocarburos" (CPPH) relating to the development of the Junín 5 giant oil field, located onshore in the Orinoco Belt.The signing of the CPPH marks the completion of the process launched with the signing of the Head of Terms on 28 April 2026, with the aim of reviving oil production thro...
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