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Rosneft CEO will meet with Venezuela’s oil industry minister — source

October 07, 2016, 18:27 UTC+3

Sechin and del Pino will discuss joint projects, in particular, the increase of Russia's participation in gas production in Venezuela

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Rosneft CEO Igor Sechin

Rosneft CEO Igor Sechin

© Valeriy Sharifulin/TASS

MOSCOW, October 7. /TASS/. Rosneft CEO Igor Sechin will meet Minister of Petroleum and Mining of Venezuela, President of Venezuelan state owned oil company PDVSA Eulogio Del Pino during his current visit to that country, an official at the Venezuelan Embassy in Moscow told TASS.

"The main purpose of the visit is the opening of the monument to Hugo Chavez in his native town of Sabaneta. The monument was created by Russian sculptor Sergey Kazantsev," the official said.

According to the official, Sechin and del Pino "will discuss joint projects, in particular the increase of Russia's participation in gas production in Venezuela."

The official added that "global oil prices" won’t be discussed. "Only the issues of bilateral cooperation," the officials said.

In late July, it was reported that Rosneft and PDVSA will work out a feasibility study for the project of development of Patao, Mejillones and Rio Caribe fields off the coast of Venezuela.

In June, in an interview with TASS del Pino said, that Rosneft and PDVSA will sign an agreement on joint gas production at Patao and Mejillones fields.

In 2015, at the St. Petersburg International Economic Forum, Rosneft and PDVSA signed a memorandum of intention to create a joint venture to produce 25 mln cubic meters of gas a day at two fields. The produced gas will be supplied to the countries of the region by pipeline and in a liquefied form. The project implies the construction of a plant to produce liquefied natural gas.

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