Eni Agrees to Restart Venezuela's Junin-5 Heavy Oil Project
Eni has signed an agreement with Venezuela's government and PDVSA to relaunch the Junin-5 heavy oil project, one of the largest undeveloped oil reserves in the country. The project, which Eni holds a 40% stake in, had been stalled due to underinvestment and sanctions. The move is part of Venezuela's broader effort to attract foreign investment in its oil and gas sector.
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Topics: Eni heavy oil oil and gas PDVSA project relaunch Venezuela