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Eni to Expand Venezuela Output With PDVSA on Junín 5 Heavy-Oil Field

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Eni plans to announce an agreement with PDVSA to develop the Junín 5 heavy-oil field in Venezuela’s Orinoco Belt, making Eni the exclusive operator responsible for technical, financial and commercial management. The field holds about 35 billion barrels of certified oil. Eni averaged about 64,000 barrels of oil equivalent per day in Venezuela last year.

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