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  Tuesday, October 20, 2020
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Venezuela’s Vice-President Jorge Rodriguez will begin his working visit to Russia on Tuesday
Venezuela’s Vice-President Jorge Rodriguez will begin his working visit to Russia on Tuesday to promote economic cooperation and joint energy projects. Rodriguez, who together with Russian acting Deputy Prime Minister Alexander Zhukov co-chairs the bilateral high-level intergovernmental commission, will participate in the work of the Business council, which is expected to focus, in particular, on cooperation between Russia’s LUKOIL oil major and Petroleos de Venezuela in developing the Junin-3 field in the Orinoco River oil belt. Venezuela Industry Federation President Miguel Perez Abad, who together with LUKOIL’s Vice-President Andrei Kuzyaev co-chairs the Russia-Venezuela Council of entrepreneurs, said the Moscow meeting will focus on joint projects and investments into the fuel and energy complex, petrochemical industry, industrial and civilian construction, infrastructure development, agro-industrial complex, telecommunications and tourism. The Junin-3 field is expected to be one of the major topics, as in summer President Hugo Chavez said state-run Petroleos de Venezuela will sign a contract with LUKOIL by the end of the year. LUKOIL said “the contract has been finalized and is waiting to be signed”. It calls for a joint venture to develop the major oil field. At present LUKOIL and Petroleos de Venezuela are jointly assessing the reserves at Junin-3. Preliminary estimates show the Orinoco oil belt has a total of 235 billion barrels of heavy and super heavy crude oil.
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