Russian Companies to Invest $17.6 Billion in Venezuela
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Russian oil companies will invest $17.6 billion in Venezuela by 2019 and quadruple output, expanding cooperation to offshore areas and oil services, said the petroleum minister of South America’s largest oil producer.
OAO Rosneft, Russia’s state-run producer, has signed a preliminary deal for the second phase of the Mariscal Sucre gas project off the coast of Venezuela, which will produce 600 million cubic feet a day of gas and 20,000 barrels a day of condensate, oil minister Rafael Ramirez told reporters in Caracas today.