Venezuela, China: Oil
Joint Venture
Venezuelan state oil
company Petroleos de
Venezuela (PDVSA) and
the Chinese National
Petroleum Corporation
Service and Engineering
LTD agreed Saturday to
create a joint venture
for oil operations and
services, said PDVSA.
A note by PDVSA said the
new joint venture will
strengthen the
Venezuelan operations by
means of using Chinese
personnel and
technology, to
consolidate the formers
sovereignty in energy.
The communique added the
new joint venture should
handle 30 percent of oil
activities in Venezuela,
which is committed to
increasing crude oil
supply for China up to a
million barrels a day,
before 2010.
Luis Vierma, PDVSA vice
president of Exploration
and Production, said
that the new enterprise
will put the technology
and training of China at
the disposal of
Venezuela to discover
new wells to support the
supply.
Vierma said that the
government of Venezuela,
which wants to make more
international partners,
should stop looking to
the north, and widen its
relations with farther
countries like China, a
country with which it
has exploitation
agreements in the
Orinoco oil strip. |
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