Rosneft increases stake in Orinoco River Basin JV and offshore projects

 Carabobo oil field VenezuelaRosneft has agreed to to invest a further $500m in the Orinoco River Basin JV it operates with Venezuela’s state-run PDVSA, the Latin American company announced this week. Under the terms of the agreement, Rosneft will increase its stake in the PetroMnagas JV – which is developing the Carabobo block – from 16.7% to 40%, and will also become a partner and shareholder in the Mariscal Sucre project which is exploring and drilling in the Mejillones and Patao offshore gas blocks.

Source: Vedomosti