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Venezuela, China Sign Accord for Orinoco Belt Exploration

Venezuela and China signed accords to explore new oil fields, including Junin 10 South, and to develop Petrosinovensa and other existing fields, Venezuela Oil Minister Rafael Ramirez said.

The two countries also signed agreements to produce 900 megawatts of electricity using petroleum coke and coal, state oil company Petroleos de Venezuela SA said in a statement sent by e-mail, citing Ramirez.

To contact the reporter on this story: Jose Orozco in Caracas at jorozco8@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

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