Rosneft and Venezuela’s PDVSA tosign deal to develop two gas fields in July

Jun 17, 2016 12:00 AM

Russian state-owned oil company Rosneft and Venezuelean state owned oil company PDVSA will sign an agreement on joint gas production at Patao and Mejillones fields in July, PDVSA CEO Eulogio del Pino said in an interview with TASS at the St. Petersburg International Economic Forum (SPEIF).

"We are working together and we are already close to signing an agreement for a huge offshore gas project in the Mariscal Sucre in the north east of Venezuela. We are completing all the studies to produce in two fields Mejillones and Patau," del Pino said.

"Mr Sechin (head of Rosneft - TASS) is going to Venezuela at the end of July. At that meeting we expect that maybe we will be able to sign some final agreements about that project," he added.

At the last SPIEF in 2015, Rosneft and PDVSA signed a memorandum of intention to create a joint venture to produce 25 mln cubic meters of gas a day at two fields. The produced gas will be supplied to the countries of the region by pipeline and in a liquefied form. The project implies the construction of a plant to produce liquefied natural gas. Rosneft plans to complete the feasibility study of the project before signing the agreement in July.

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