Gazprom, PDVSA Sign Agreement for Development of Venezuelan Hydrocarbon Project
Posted on: Tuesday, 23 September 2008, 09:01 CDT
Russian gas monopoly Gazprom and Venezuelan state-owned oil company PDVSA have signed a memorandum of understanding on the Blanquilla Oeste y Tortuga project for the exploration and production of natural gas on the shelf, its supply to the domestic market, as well as liquefaction and export of gas.
The agreement foresees a joint study project in order to determine the level of interest in future participation in the exploration and development of hydrocarbon fields in Venezuela.
The memorandum of understanding was signed during Gazprom deputy chairman Alexander Medvedev's visit to Venezuela.
Source: Datamonitor
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