junin5

📊 A green light expected before December
Italy’s Eni has a decision on the table that could shift the country’s energy landscape: approval of the first phase of its heavy crude plan in the Junín 5 block, in the heart of the Orinoco Oil Belt. The company signed an agreement with PDVSA last month and, according to its executives in their most recent analyst call, the process is moving along well and the green light could come before the end of the year.
The figures are significant: the plan is to increase production from around 12,000 barrels per day to 200,000 over a period of 18 to 24 months after the investment decision is made. The roadmap then targets 400,000 barrels per day by the end of 2029, and one million barrels between 2032 and 2033.