05-08-03 Venezuela's Energy minister Rafael Ramirez, said he is negotiating an energy cooperation agreement with Russia that will included the invitation to bids for the exploration and production of the new areas to be assigned within this year.
"We're inviting most important international oil companies to Venezuela," Ramirez said.

At the end of August, we will auction rights to explore and produce three more blocks in Deltana’s offshore gas platform, Ramirez said. Also, there is a need at least $ 1 bn of investment, to invest in the Tomoporo field.
"Tomoporo, with an estimated 1.5 bn barrels of oil in reserves, is a big opportunity for private investment," Rafael Ramirez reported. Last month Luis Vierma, Venezuela’s Energy Vice minister said that Exxon and Repsol, may pull a joint venture together and with other partners to bid for the Tomoporo field. ChevronTexaco, Total and Statoil, all with Venezuelan interests have said they're interested in tapping Tomoporo, Ramirez said.

Ramirez is in Moscow on a short visit for talks in the energy agreement between Venezuela and Russia with Russia's energy minister Igor Yusufov and to promote the Venezuela’s opportunities to private oil companies. Igor Yusufov, said both countries have talked on the importance of completing work on a bilateral agreement energy, to be signed soon.
Another area of possible Russian participation is in construction of the Venezuela natural gas pipeline network.