Venezuela, Eni Orinoco project details soon

ROME, April 21 (Reuters) - Venezuela will detail a joint project with Italy's Eni (ENI.MI) to produce and export heavy crude from the Orinoco basin, Venezuelan Energy and Mines Minister Rafael Ramirez said on Monday.

"We are going to have a project in a few months for extraction, upgrading and export of oil," he told reporters.

He estimated costs at $1.50-$2.00 a barrel for extraction and $4 a barrel for upgrading the heavy quality oil.

(Rome IEF newsroom +3906 35094254)