Repsol maintains gas production in Venezuela at 580 million cubic feet per day

Repsol has confirmed that natural gas production at the Cardón IV field in Venezuela remains steady at 580 million cubic feet per day. The Spanish energy company operates this major Latin American gas field alongside the Italian firm ENI.

This production level has been maintained since March, following an agreement with the Venezuelan government to exploit the field. The operations are supported by general licenses issued by the United States administration to facilitate activities in various sectors of the country.

In the last six months, Repsol has signed three agreements with the Venezuelan government and the state-owned Petróleos de Venezuela (PDVSA) to increase both natural gas and crude oil production. These agreements aim to reinforce long-term production stability and establish payment mechanisms, which include the progressive allocation of oil shipments. CEO Josu Jon Imaz noted that the company intends to continue supplying gas essential for the Venezuelan electrical system while working toward increased processing.