UPDATE 4-Venezuela, Russia's Rosneft agree on $14 bln oil, gas investment

jueves 28 de mayo de 2015 09:29 GYT
 

* President Maduro met Rosneft's CEO Igor Sechin

* Rosneft says $14 bln is total investment in Venezuela (Updates with Rosneft's comments)

CARACAS May 28 (Reuters) - Venezuela and Russia's top oil producer, Rosneft, have agreed on around $14 billion in investment in the South American OPEC country's oil and gas sector, President Nicolas Maduro said.

Maduro met the chief executive of state-owned Rosneft, Igor Sechin, on Wednesday, in the company of the president of state oil company PDVSA, Eulogio del Pino, and National Assembly boss and Socialist Party No. 2 Diosdado Cabello.

"We had a great meeting and agreed on investment of over $14 billion," Maduro said on Wednesday evening in a televised broadcast, adding the funds would go toward doubling Venezuela's oil production.

PDVSA has formal ambitious targets to double national production to 6 million barrels a day by 2019, with 4 million of that projected to come from the Orinoco Belt, but few industry experts or foreign investors expect those goals to be met.

Speaking at a Socialist Party event broadcast on state television, Maduro did not provide a breakdown of the investment plan, and it remained unclear who would fund it.

PDVSA and the Venezuelan Oil Ministry did not immediately respond to requests for details.

Rosneft said in emailed comments that the $14 billion dollars was the total amount of investments of the company in Venezuela during the lifespan of current and future projects.   Continuación...