Rosneft, PDVSA sign memorandum on implementing joint projects
ST. PETERSBURG. June 20 (Interfax) - Rosneft and PDVSA have signed a memorandum formalizing agreements on the implementation of the Petromonagas, Petroperija, Boqueron, Petrovictoria, and PetroMiranda joint projects, Rosneft said.
"The parties confirmed their intention to create a joint venture for gas and condensate offshore production in Venezuela as part of Mariscal Sucre project. The signed document provides for performing of additional joint research aimed at selection of optimum plan of this project implementation," Rosneft reported in a statement available on its website.
The Memorandum also envisions the parties' intention to continue negotiations on increasing Rosneft's stake in the PetroMonagas project, it said.
The agreements demonstrate the quality of cooperation between Rosneft and PDVSA, which is manifested in "consistent development of strategic partnership between the companies," it said.
