Russia and Venezuela – Joint projects in oil and gas trade

Joint projects in oil and gas tradeRussia and Venezuela – two major oil powers and concerted action from these countries depends ensuring energy security. The talks with Russia President Hugo Chavez proposed the creation of a strategic alliance in the energy field. Also at the talks by representatives of Russian companies «TNK-BP», «LUKOIL» and «Gazprom» signed several agreements with the Minister of Energy and Petroleum of Venezuela, president of state Petroleos de Venesuela (PdVSA) Rafael Ramirez Carreño.

«LUKOIL» entered into an agreement with PdVSA on the joint study of the Junin-3 block in the Orinoco oil belt rivers in the east. Junin-3 block is located in the zone of heavy oil (ie, with a higher sulphur content, paraffin, smolistyh substances), which consequently requires a more complex mining and processing technologies. «TNK-BP» and PdVSA signed an agreement on joint exploration block Ayacucho-2 oil Orinoco province.

As you know, President of Venezuela ceased relations with western oil companies. In particular, as a result of nationalization of the oil industry Exxon Mobil lost assets in that country. Now for the development of heavy oil and offshore sites will be brought Russian companies.

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