Rosneft holds negotiations with companies from Venezuela on joint development of gas at the shelf

​Rosneft has started negotiation with Venezuela on joint gas extraction at the gas shelf of the country, the Ambassador of Russia in Venezuela, V. Zaemsky, said.

According to him, today active negotiations are held now.

In June 2015 Rosneft and PDVSA confirmed the intention to found a JV on gas and condensate extraction at the shelf of Venezuela in the framework of the Mariscal Sucre project.

The agreement presupposes the additional joint studies for the selection of the best scheme of the project.

The memorandum presupposes the continuation of the negotiations on the growth of Rosneft’s participation in the Petromonagas project up to 40%.

Now Rosneft holds 16.67% in Petromonagas, PDVSA -83.3%.

Rosneft and PDVSA invest $14 bln into the development of oil and gas deposits of the Orinoco area in Venezuela.