Repsol Confirms Big Gas Find With Oil In Venezuela.

BLOOMBERG/
Spain’s Repsol confirms its new natural gas deposit found in Venezuela's waters equals up to 1.4 billion barrels of oil. The deposit is located in shallow waters off the country’s northwestern coast, where Repsol has been prospecting since 2006.
With roughly 5.5. trillion to 7.7. trillion cubic feet of gas, the field surpasses the total reserves of Venezuela’s neighbor Colombia.
The Cardon IV field is the biggest in the history of Venezuela, which discovered the reserves as part of a 50-50 exploration partnership with Italy’s Eni. Some light crude oil was also found.