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Provider: Reuters Investment Profile

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Eni, Repsol to invest $1 bln in Perla Field in Venezuela-DJ

Wednesday, 4 Jun 2014 03:41pm EDT 

Repsol SA:Eni SpA said it and Repsol would each invest $500 million to develop and exploit 17 trillion cubic feet in gas reserves at Perla field in Venezuela-Dow Jones.Both companies will each own 20 percent of joint venture set up to exploit field, with remaining 60 percent controlled by Petroleos de Venezuela SA.Perla field is expected to begin production by end of year, eventually reaching 1.2 billion cubic feet a day. 

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