Venezuela and India Sign
Oil Agrement
India and Venezuela
representatives signed
on Tuesdy an agreement
to create the Indo-Venezolana
Ltd joint oil company,
with a view to operate
in the San Cristobal
bloc of the Orinoco
Strip.
The Venezuelan Energy
and Oil Minister Rafael
Ramirez performed the
operation with Indian
Oil Minister Murli Deora,
who is visiting this
capital.
The business involves
the Indian ONGC oil and
gas state company, which
will have 40-percent
participation, while
host PDVSA will have the
rest of the shares.
In statements to the
press, Ramirez
highlighted the
possibilities to enter
the Asian country's
refining circuit, where
there is a refining
capacity of around five
million barrels a day.
He also mentioned
technology, Venezuelan
personnel's training in
India, and the choice of
agreeing mass training
programs among the
cooperation spheres.
Actions of this kind are
currently taken with
Algeria, where around
500 experts are being
trained, supported by
the Sonatrach Company,
said the also PDVSA (Petroloeos
de Venezuela) president.
The agenda of business
potentials also includes
the possibility to
create joint service
companies in the oil
sector, as we have
already done with China,
the minister said.
In relation to contacts
with businesspeople of
the private sector that
accompanied Deora, the
Venezuelan minister
referred to agreeing a
contract with the
Reliant firm to supply
150,000 daily oil
barrels, starting in
June. |
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