Chavez, Duarte Agree on Bi-national E&P Commission
Venezuela's President Hugo Chavez and his Paraguayan counterpart Nicanor Duarte have agreed to form a bi-national commission to study E&P of crude in Paraguay, Venezuela's state oil firm PDVSA reported.
"Paraguay has a lot of potential that must be developed and turned into power," Chavez said in the statement, adding that a commission of Venezuelan oil experts would travel to Paraguay soon.
Chavez and Duarte met during the latter's first official visit to Caracas.
If the bi-national project bears fruit, it would be a first for the Venezuelan state oil company, as PDVSA has never performed E&P outside Venezuela. Paraguay is an importer of gasoline and has a limited, joint E&P initiative in India that began last year.
Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
- Documents: Venezuela Resumes Domestic Crude Exports To Cuba (Sep 13)
- Documents: Venezuela's PDVSA To Reopen Damaged Port Dock By Month's End (Sep 12)
- Venezuelan Crude Sales To US Fell In August On Port Interruptions (Sep 04)