Moscow, Caracas in Talks Over Joint Gas Development on Venezuelan Shelf

MEXICO CITY (Sputnik) – Russian energy company Rosneft has begun talks with Caracas on joint gas extraction on the southern shelf of Venezuela, the Russian ambassador to the country said.

"Now we are working on Rosneft possibly beginning to work jointly with the Venezuelans on gas development on the shelf," Vladimir Zayemsky told RIA Novosti.

In June, Rosneft and Venezuela's state-owned PDVSA confirmed their determination to create a joint natural-resource extraction venture for gas and condensate production on the Venezuelan shelf.

Companies actively cooperating in implementing five major joint projects are: PetroMonagas, Petroperija, Boqueron, Petrovictoria and PetroMiranda.