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Venezuela's effort to enhance the capability in oil and gas sectors with Russia's and China's support (2016-10-31)

Venezuela's effort to enhance the capability in oil and gas sectors with Russia's and China's support

Venezuela has long put extensive plans on the agenda to develop the Orinoco petroleum belt which possesses the world's largest petroleum reserve, while Russia and China are also involved in joint projects of this belt.

In line with plans, Russia and China also contribute to develop gas projects of Paria Peninsula, Sucre State, Venezuela.

Gazprombank, the third largest investment bank in Russia, is one of the largest investors for developing energy projects in Venezuela. Over the past two years, this bank has invested more than $ 1 billion in projects implemented by Petrozamora in Venezuela.

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