Eni has confirmed to investors that it remains committed to expanding its oil and natural gas production in Venezuela, targeting a medium-term output of 200,000 barrels per day.
The Italian energy major made the announcement on Wednesday, emphasizing that its Venezuelan projects remain among its most significant strategic assets.
The reaffirmation comes as Eni navigates a complex operating environment in South America.
The company indicated that a new legal framework in Venezuela provides the necessary stability to proceed with its expansion plans.
This move underscores Eni's strategy to maintain and grow its presence in the region, despite the broader geopolitical risks associated with Venezuelan energy exports.
Eni's continued investment in Venezuela is part of a broader push to strengthen its global upstream portfolio.