- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russia, Venezuela sign package of oil deals

© POOL / Go to the mediabankRussia and Venezuela signed on Thursday a package of deals, including one to develop the Latin American country's Orinoco oil belt
Russia and Venezuela signed on Thursday a package of deals, including one to develop the Latin American country's Orinoco oil belt - Sputnik International
Subscribe
Russia and Venezuela signed on Thursday a package of deals, including one to develop the Latin American country's Orinoco oil belt, with estimated reserves of 235 billion barrels of heavy oil.

MOSCOW, September 10 (RIA Novosti) - Russia and Venezuela signed on Thursday a package of deals, including one to develop the Latin American country's Orinoco oil belt, with estimated reserves of 235 billion barrels of heavy oil.

Venezuela's PdVSA state oil firm and a consortium of major Russian producers signed a memorandum of understanding on cooperation in Orinoco, and a separate memo on establishing a joint venture to develop the Junin-6 field.

PdVSA also signed agreements with Russia's pipeline monopoly Transneft to build infrastructure in the Orinoco belt and another deal with oil giant Rosneft.

The documents were signed during President Hugo Chavez's two-day visit to Russia.

The consortium of Russian producers to work with Venezuela's PDVSA state oil firm includes TNK-BP, Rosneft, LUKoil, Gazprom Neft and Surgutneftegaz.

 

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала