Rosneft, PDVSA sign agreements for offshore projects

OAO Rosneft and Petroleos de Venezuela SA (PDVSA) have signed a cooperation agreement for offshore projects in the Rio-Caribe and Mejillones blocks, the second stage of the Mariscal Sucre gas project (OGJ Online, July 3, 2013).

The companies intend to continue negotiations on key technical requirements and commercial and legal terms for establishment of joint ventures to develop Rio-Caribe and Mejillones.

The parties also agreed to set up joint ventures for engineering, construction, and well servicing, and held negotiations on LNG plant construction.

The signings took place during a visit to Caracas by Rosneft Pres. Igor Sechin.

Rosneft and PDVSA have five joint oil production projects in Venezuela: Carabobo-2 and 4, Junin-6, PetroMonagas, Boqueron, and Petroperija.