CARACAS, November 10. /TASS/. The Venezuelan state-owned oil and gas company Petroleos de Venezuela S.A. (PDVSA) and the US company ExxonMobil have signed a memorandum of understanding to clear the way for specific investment agreements, the country’s acting President Delcy Rodriguez announced. She attended the signing ceremony.

"I hope that this memorandum will soon lead to concrete agreements that will yield results and the anticipated investments," Rodriguez said on the Venezolana de Television channel. She emphasized that cooperation with ExxonMobil would be mutually beneficial for the American company and the Venezuelan people.

The acting President noted that the memorandum of understanding covers oil fields with "reserves amounting to billions of barrels of oil," including both brownfield and greenfield projects. She stated that ExxonMobil "possesses the potential, technology, capital, and necessary investment capacity to develop this project, while Venezuela offers not only material resources but also an exceptional workforce in the hydrocarbon sector."

Rodriguez indicated that the Venezuelan state would provide a solid legal framework to ensure stable operations and security for the US major. She noted that the agreement reached would have a positive impact on the development of Venezuela's national economy.