Eni to sign Venezuela oil pact, joining Chevron in production push

Italian energy major Eni S.p.A. will reportedly sign a new energy pact in Venezuela as early as Wednesday, September 2nd. The agreement aligns Eni with other major producers including Chevron and investors KEO Capital and Primavera.

The deal targets expanded oil operations within a new section of the Orinoco Belt. This initiative supports Venezuela’s broader strategy to increase national oil production.

This move follows previous 2026 agreements to relaunch the Junín-5 heavy oil project and export gas from the Perla offshore field. These contracts are migrating to new terms under recent Venezuelan oil reforms designed to revitalize the energy sector.