Rosneft and PDVSA to invest $20 billion in projects in the Orinoco belt

“Rosneft” has signed with the Venezuelan state, PDVSA, an agreement to invest $20 billion in productivity of five companies located in the area of the Orinoco oil belt, according to the Agency AVN.

The company, which will be allocated, extract 170 thousand barrels. on the day, said the Agency.

In September, the Minister of petroleum and mining of Venezuela, Augurio del Pino said that hopes for a speedy signing of the cooperation agreement with Rosneft for two deposits.

Then, Del Pino also noted that the share of Rosneft in a new oil and gas projects will amount to 50%. “It will be a joint company with PDVSA in half,” — said the Minister.