Russia and Venezuela agree plans for offshore oil and gas fields

Oct 07, 2014 12:00 AM

Russia and Venezuela have agreed plans to develop offshore oil, and gas fields in the North Atlantic, as well as a thermal power plant. The deal is a further show of unity between the two nations, with Venezuela being Russia's second largest trading partner in Latin America.

Russian Foreign Affairs Ministry spokesman Alexander Lukashevich said: "Our investment co-operation is based on joint projects in the energy sector, first and foremost, oil and gas field development."

He unveiled plans to further develop co-operation between the two countries including the joint development of offshore fields, and construction of a thermal power plant in Venezuela.

The countries are also co-operating in the military-technical sector, he said.

Rafael Ramirez, Venezuela's Foreign Affairs minister, is set to arrive in Moscow on October 8 to hold talks with his Russian counterpart Sergei Lavrov.

Russia and Venezuela agree plans for offshore oil and gas fields

Venezuela is Russia's second-largest trade partner in Latin America after Brazil. Some of the most prominent Russian energy companies, such as Gazprom, Rosneft, Lukoil, National Oil Consortium and Inter RAO operate in the Venezuelan market.

This will be Ramirez's first visit to Russia as the head of the Venezuelan Foreign Ministry.

Russia and Venezuela share the same views on important international issues such as the situation in Ukraine and in the Middle East, as well as many other current affairs, Lukashevich told.

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