(Bloomberg) — Eni SpA and Repsol SA are considering bringing in outside investors into the giant Perla natural gas field off Venezuela’s coast, as the Trump administration pushes to unlock the South American country’s energy reserves.
The two partners, which each own 50% of the offshore venture, are evaluating whether to sell a portion of their stakes to bring in more funds, according to people familiar with the matter who asked not to be identified discussing confidential information. The capital would be used to help develop the field.
Eni and Repsol declined to comment.
Venezuela, which holds vast oil reserves, also has very large gas deposits. But the nation doesn’t export it.
Last month, Venezuela and the U.S. announced partnerships with major oil companies including Chevron Corp., GE Vernova Inc. and Eni aimed at boosting crude production.
At the same time, Eni and Repsol have signed an agreement with Caracas to start exporting gas from the country by the end of 2031, seeking to revive a long-stalled effort to expand production from Perla. They aim to more than double production from the field in the Gulf of Venezuela and export the fuel as liquefied natural gas from a floating terminal, Bloomberg reported earlier this year.
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