ENI said it is working with Venezuelan counterparties and other relevant parties to support a revival of the country’s energy sector. The comments come as the Trump administration seeks a larger role in Venezuela’s oil industry, including a plan under which the US would control 55% of actual output from a joint venture covering fields with about 65 billion barrels of proven reserves. ENI is also expanding its Venezuelan presence, negotiating new contracts for Junín-5 and Corocoro and recently si

ENI said it is working with Venezuelan counterparties and other relevant parties to support a revival of the country’s energy sector. The comments come as the Trump administration seeks a larger role in Venezuela’s oil industry, including a plan under which the US would control 55% of actual output from a joint venture covering fields with about 65 billion barrels of proven reserves. ENI is also expanding its Venezuelan presence, negotiating new contracts for Junín-5 and Corocoro and recently signing a gas export agreement for the Perla field.