Rosneft and PDVSA signed cooperation agreement to implement projects on Venezuelan shelf
On July 2 in Moscow Rosneft’s President and Chairman of the Management Board Igor Sechin and Venezuelan Oil Minister and PDVSA President Rafael Ramirez in the presence of the President of the Russian Federation Vladimir Putin signed a cooperation agreement for implementation of offshore projects in Venezuela.
The Agreement provides for among other things joint studies for evaluation of technical and economic viability of offshore gas and condensate production in Venezuela, gas liquefaction for export and domestic sales and evaluation of the prospects of joint ventures for development of gas and gas condensate fields.
To carry out joint studies the parties will set up a managing committee and working teams and PDVSA will provide information required for studies to Rosneft.
