16:34 GMT +316 December 2019
Listen Live

    Russia's Rosneft Expects 5-Fold Rise of Oil Production in Venezuela Over Decade

    © Sputnik / Maxim Blinov
    Get short URL
    0 113

    Russia’s oil giant Rosneft said in a statement Wednesday that the company expects its oil production in Venezuela to increase five-fold over the next 10 years - up to 12.5 million tonnes of oil equivalent.

    MOSCOW (Sputnik) — According to Rosneft, in 2016, the oil production at company’s joint projects in Venezuela stood at around 8.4 million tonnes, of which Rosneft’s share amounted to 2.67 million tonnes.

    The statement added that Rosneft and Venezuela’s state-owned oil and gas company Petroleos de Venezuela (PDVSA) have started experimental-industrial oil production within their PetroVictoria joint project.

    Apart from PetroVictoria, Rosneft and PDVSA carry out such joint projects as Petromiranda, Petromonagas, Boqueron and Petroperija in Venezuela.


    Venezuela's Maduro Says Summit of Oil Producers Will Be Held in Near Future
    Venezuela's Maduro Proposes Summit of OPEC, Non-OPEC Oil Producers to Fix Prices
    oil production, Rosneft, Russia, Venezuela
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik