Venezuela and Russia aim to pump 200,000 bpd in Orinoco

Mar 17, 2009 01:00 AM

Petroleos de Venezuela and a group of five Russian oil companies will seek to pump 200,000 bpd of heavy crude from the Orinoco Belt, Venezuelan Energy and Oil Minister Rafael Ramirez said.
The joint venture will invest at least $ 6 bn after Venezuela's legislature approves the project this year, Ramirez said.

The venture, initially announced March 14, is the fourth between Venezuela's state oil company and a Russian company.
It will drill in an area known as Junin 6.

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