01:20 AM EDT, 10/26/2026 (MT Newswires) -- Eni (ENI.MI) expects a final investment decision on the first phase of its oil project in Venezuela before the end of 2026. In the Italian energy company's third-quarter earnings call on Oct. 23, Chief Transition and Financial Officer Francesco Gattei said the first phase of production at the Junin-5 field is expected to generate a gross output of 200,000 barrels in 24 months. Gattei noted that the field is covered by a new 25-year contract signed in September, adding that further phases could boost daily production to 1 million barrels.

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