Eni, PDVSA sign agreement

Italian oil and gas company Eni and Venezuela's state oil and gas giant PDVSA signed on February 4 a cooperation agreement to study projects of common interest in the South American country, Eni said in a statement Thursday. "The agreement is the result of deep analyses that assign an important role to Venezuela for the future growth of our company," the statement said. Under the agreement, the companies aim to develop technologies to upgrade heavy crude oil, improve returns on investments and optimize gas exploration and production, PDVSA said in a separate statement. The agreement is also designed to promote professional training of PDVSA workers at Eni's installations in Venezuela. Eni currently produces 70,000 barrels a day of oil from the Dacion field in Venezuela and participates in the development of the Corocoro field, with a 26% share.