Rosneft outlines offshore Venezuela collaboration

Rosneft has agreed to cooperate with PDVSA on two development programs offshore Venezuela.

Offshore staff

CARACAS, Venezuela – Rosneft has agreed to cooperate with PDVSA on two development programs offshore Venezuela.

These concern the offshore Rio-Caribe and Mejillones blocks (Phase 2 of the Mariscal Sucre project).

Both parties and Venezuela’s government will continue negotiations toward an accord on the main technical requirements, and commercial and legal terms to establish joint ventures to develop the blocks in line with Venezuelan legislation.

Additionally they will form a joint venture to engage in welldrilling, re-completion and well infrastructure development, and to provide services related to the procurement of equipment, materials, and services within their joint projects.

07/30/2014

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