10:47 AM EDT, 04/20/2026 (MT Newswires) -- Italy's Eni (ENI.MI) and Spain-based Repsol (REP.MC) reportedly reached a deal with Venezuela to begin exporting gas from their Perla giant gas field from 2031, following long-stalled efforts.

Bloomberg News wrote Monday, citing people familiar with the matter, that the agreement signed in mid-March also includes assurances that the companies will be compensated for the unpaid billions of dollars worth of gas supplied to the country. The partners'operating lease on the field has also been extended to 2051 from 2036, the report said.

Under the deal, exports will begin once production reaches 1.2 billion cubic feet per day, and domestic supply hits 645 million cubic feet per day, the sources noted.

The Perla field sits within the Cardón IV Block, operated by Cardón IV SA, an entity equally owned by Eni and Repsol.

The companies did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)