Venezuela, Eni Orinoco project details soon

ROME, April 21 (Reuters) - Venezuela will detail a joint project with Italy's Eni (ENI.MI: Quote, Profile, Research) 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)