Spain-based Repsol has discovered a Venezuelan gas field containing as much as 8 trillion cu/ft of fuel. Repsol said that the field’s potential gas resources would be enough to supply Spain for more than 5 years. In the development phase of the field, known as Cardon IV, state owned Petroleos de Venezuela SA will have a 35% stake in the project, with Repsol and Eni SPA retaining a 32.5% stake.
