Russia’s Rosneft, PDVSA sign shelf development deal

MOSCOW, Jul 29 (PRIME) -- Russian state-run oil major Rosneft and Venezuelan state-owned energy company PDVSA have signed several agreements, including a strategic partnership deal and an agreement on development of the shelf, Venezuela’s Energy Ministry said on its Twitter page late on Thursday.

According to local Web portal Noticias24, Venezuelan Oil Minister Eulogio del Pino said that the agreements encompass investments totaling U.S. $20 billion.

The agreements were signed regarding a feasibility study for appraisal of gas fields Patao, Rio Caribe and Mejillones, and agreement with petrochemical company Petroquimica de Venezuela on a joint venture for supplies of gas to Ana Maria Campos facility, on contracts for purchases of oil and oil products and on training of staff in Russia.

“Today, we are to sign important strategic agreements between Rosneft and PDVSA,” the ministry said.

In late June, Rosneft CEO Igor Sechin said that the company will implement a project for production of natural gas at the country’s shelf and will construct a liquefied natural gas (LNG) plant in the country.

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