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 parties confirmed their intention to generate a joint venture for natural 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 in Paria Peninsula, Mejillones, Patao and Rio Caribe.
This strategic plan between the two companies involves the development of new improvement infrastructure for joint ventures in the Faja Petrolífera del Orinoco Hugo Chávez (FPO), Petromiranda and PetroVictoria, under an optimized investment approach to ensure profitability required by the new market scenario.
The achieved agreements demonstrate the quality of Rosneft and PDVSA cooperation expressed in consistent development of strategic partnership between the companies.