PDVSA eye gas joint venture in Venezuela

Russian Gazprom and Venezuela''s state oil company PDVSA have signed a memorandum to declare the possibility of setting up a joint venture for the development of the Robalo field in Venezuela, the Russian company said. The memorandum was signed in Caracas on Friday in the attendance of Russian Deputy Prime Minister Igor Sechin. PDVSA will suggest cooperation terms to Gazprom and will supply geological information about the project. according to Itar-Tass The sides will negotiate the project formula, stakes and other aspects of the development of the Robalo field. The sides stressed the mutual interest in further broadening bilateral cooperation in oil and gas projects.