Eni relaunches Junin-5 in Venezuela as Eni stock costs EUR 26.75

Published on 10/29/2026 at 10:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Eni targets 200,000 barrels per day at Junin-5 by 2028. Eni stock costs EUR 26.75 on October 29, 2026 at Lang & Schwarz.

Venezuela project enters execution

Eni announced the start of operations at Junin-5 on October 28, 2026.
The field contains 35 billion barrels of certified oil in place.
Eni stock traded at EUR 26.75 at 10:14 a.m. CET at Lang & Schwarz on October 29, 2026.

Eni, IT0003132476, Illustration mit AI erstellt.

Eni (ISIN IT0003132476) announced the start of operations at the Junin-5 field in Venezuela on October 28, 2026, with Phase 1 targeting production of 200,000 barrels per day by 2028. The announcement adds a large upstream development to the company's expansion in Venezuela, while Eni stock was trading at EUR 26.75 at Lang & Schwarz on October 29, 2026 at 10:14 a.m. CET.

Junin-5 adds upstream scale

According to Eni, Junin-5 is a supergiant onshore heavy-oil field in Venezuela's Orinoco Belt containing 35 billion barrels of certified oil in place. The development plan includes restoring abandoned wells and drilling new wells, using existing infrastructure to support execution and investment efficiency.

Eni is the sole operator and holds full responsibility for the project's technical, financial and commercial management. The company said the start of operations came less than two months after the contractual framework was signed on September 2, 2026, with support from Venezuela's Ministry of Hydrocarbons and PDVSA.

Production growth meets stronger results

Eni's third-quarter update provides a financial backdrop for the project. In the third quarter of 2026, the company reported underlying exploration and production growth of 7 percent to 1.83 million barrels of oil equivalent per day, according to Eni.

The same results release reported pro forma adjusted EBIT of EUR 6.0 billion for the third quarter, double the year-earlier level, while adjusted net profit more than doubled to EUR 2.8 billion. Eni also raised its 2026 underlying oil and gas production growth guidance to 6 percent to 7 percent. The figures show why a project with a defined production target can matter to the upstream portfolio, although the Junin-5 output timeline extends to 2028.

Eni stock stays linked to execution

The Venezuela project is now moving from contractual preparation into operations, leaving drilling progress and the timing of production increases as the next operational markers. For investors, the key measure is whether the planned 200,000 barrels per day becomes visible in reported production rather than remaining a development target.

Eni stock was trading at EUR 26.75 at Lang & Schwarz on October 29, 2026 at 10:14 a.m. CET. The further course of trading is shown by the continuously updated real-time quote of Eni stock.