06:27 GMT +319 October 2017
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    Russian energy firms, Venezuelan company sign cooperation deals

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    Russian energy companies have signed cooperation agreements with Venezuela's state oil and gas company as part of an official visit by the South American country's president to Russia.

    BARVIKHA (Moscow Region), July 22 (RIA Novosti) - Russian energy companies have signed cooperation agreements with Venezuela's state oil and gas company as part of an official visit by the South American country's president to Russia.

    Anglo-Russian oil venture TNK-BP and Venezuela's PDVSA agreed on the joint exploration of the Ayacucho-2 area in the Orinoco oil belt in Venezuela. Russian state-run energy giant Gazprom signed a deal with the Venezuelan company on the appraisal and certification of the Ayacucho-3 oil fields.

    LUKoil and PDVSA signed a memorandum of understanding and an agreement on joint exploration in the Junin-3 area, also in the Orinoco belt.

    The documents were signed in the presence of Russian President Dmitry Medvedev and Venezuelan leader, Hugo Chavez.

    Chavez told the Russian leader: "We are happy to be here, and this is an excellent opportunity to promote and improve our relations and open up new horizons."

    Medvedev said the Russian-Venezuelan talks would give "another powerful impetus" to bilateral relations.

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