Junin-5 Heavy Oil Project Relaunch
Sector: Oil and Gas • Location: Caracas, Venezuela
Source: Crude Oil Prices Today | OilPrice.com
Eni signed a programmatic agreement with Venezuela's Hydrocarbons Ministry and PDVSA to restart activity at Junin-5, a giant Orinoco Belt heavy oil field with 35 billion barrels of certified oil in place. The project had begun production in 2013 but faced underinvestment, operational disruption, and sanctions-related uncertainty. The relaunch aims to revive production in this significant heavy oil
- Status
- Prospective
- Sector
- Oil and Gas
- Location
- Caracas, Venezuela
- Updated
- 22 Jul 2026
- Source
- Crude Oil Prices Today | OilPrice.com
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Project Information
Participants
| Not available for this record. |
Status
Original status | planned |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Eni signed a programmatic agreement with Venezuela's Hydrocarbons Ministry and PDVSA to restart activity at Junin-5, a giant Orinoco Belt heavy oil field with 35 billion barrels of certified oil in place. The project had begun production in 2013 but faced underinvestment, operational disruption, and sanctions-related uncertainty. The relaunch aims to revive production in this significant heavy oil resource. |
Original sector | Energy |
Location
Country | Venezuela |
City | Caracas |
Source
Source | Crude Oil Prices Today | OilPrice.com |
URL |
More Details
Record type | Project |
Sector | Oil and Gas |
Article published date | 2026-05-01 |
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