Repsol and Eni studying bids for Perla project contracts

By Tom Darin Liskey from Houston

 14 June 2012 22:59 GMT

Repsol and Eni continue to study bids on three different engineering, procurement and construction contracts for the $1.4 billion Perla development in the Cardon IV block in the Gulf of Venezuela, as partners await an official declaration of commerciality.

Delays in awarding the contracts threaten to push back the government’s aggressive development timeline for the 16 trillion cubic feet discovery. Partners are waiting for Venezuela to grant Perla an official declaration of commerciality, according to reports.

The initial Perla development plan points to an early gas production system producing 300 MMcfd by mid-2013.

PDVSA’s head of its Eastern ­Division confirmed that early production will start later than initially predicted.

PDVSA executive Orlando Chacin said the field will start pumping in the first quarter of 2013 rather than late 2012. He said the first…

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