OREANDA-NEWS. Rosneft and PDVSA signed at the St. Petersburg International Economic Forum a Memorandum regarding joint projects of the two companies in Venezuela, The document was signed by Chairman of Rosneft Management Board Igor Sechin and PDVSA President Eulogio Del Pino.

The Memorandum provides for the formalization of a range of preliminary agreements on priority issues for further implementation of joint projects in Venezuela:

  • PetroMonagas
  • Petroperija
  • Boqueron
  • Petrovictoria
  • PetroMiranda
Moreover, the parties confirmed their intention to create a joint venture for gas and condensate offshore production in Venezuela as part of Mariscal Sucre project. The signed document provides for performing of additional joint research aimed at selection of optimum plan of this project implementation.

The Memorandum also implies the parties’ intention to continue negotiations regarding increase of Rosneft’s stake in PetroMonagas project.

The achieved agreements demonstrate the quality of Rosneft and PDVSA cooperation expressed in consistent development of strategic partnership between the companies.