Italian energy major Eni and Spanish counterpart Repsol have invited prospective bidders to submit initial expression of interest in the Perla floating LNG project in the Gulf of Venezuela. Partners are evaluating a 3.5 mtpa FLNG terminal, linked to the Perla field.
Perla holds an estimated 17 trillion cubic feet of gas in place, or about 3.1 billion barrels of oil equivalent, according to Eni. The field is operated by Cardón IV, a joint venture owned equally by Eni and Repsol. It is Venezuela’s only operating offshore gas project and currently produces around 580 million cubic feet per day.
The EOI process comes as Eni and Repsol consider bringing in outside investors by selling portions of their respective stakes in Perla. Such a transaction would help raise capital for the field’s expansion.
Eni’s 2026 Capital Markets update identifies the Perla FLNG as a 3.5 mtpa export project. In March 2026, Eni and Repsol agreed with Venezuelan government to expand production at Perla and begin exporting gas in the form of LNG by the end of 2031.
The field expansion plan targets more than doubling output to about 1.2 billion cubic feet per day through new drilling and two additional platforms by 2028.
The project is gaining momentum amid efforts of the US Trump administration to unlock Venezuela’s oil and reserves. American oil majors are considering expanding their exposure in Venezuelan upstream assets – while Perla FLNG project remains an early-stage proposition rather than a near-term supply source for global markets. But the invitation to prospective bidders signals that Eni and Repsol are moving beyond feasibility studies. (October 14, 2026, Source: https://lngjournal.com/index.php/latest-news-mainmenu-47/item/117427-eni-and-repsol-invite-bidders-for-perla-flng-project)
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