Rosneft, PDVSA sign Venezuela oil accord

摘要

Moscow—Russia’s state-run Rosneft and Venezuela’s PDVSA December 8 signed a memorandum of understanding to develop jointly the Carabobo 2 project in the heavy oil belt of the Orinoco Basin in Venezuela. The document was signed in the presence of Russian Prime Minister Vladimir Putin and Venezuelan Vice President Elias Jose Jaua Milano in Moscow. Under the agreement, PDVSA and Rosneft will set up a joint venture to develop the project, in which the Russian company will take a 40% interest and CVP, a subsidiary of PDVSA, will have the remaining 60%, Rosneft said.