OREANDA-NEWS. September 22, 2008. A delegation of OAO Gazprom led by Deputy Chairman of the Board of Directors Alexander Medvedev recently visited Venezuela.

During the visit, Mr. Medvedev met with Venezuela’s Energy and Oil Minister and the President of Petroleos de Venezuela S.A. (PDVSA) Rafael Ramirez. The two men discussed the results of current Gazprom projects in the oil and gas sphere and agreed to study the possibilities for participation in promising new projects.

After a period of negotiations, the two companies, with Venezuelan President Hugo Chavez present, signed a Memorandum of understanding on a project called Blanquilla Oeste y Tortuga, including exploration and production of natural gas on the shelf, its supply on the domestic market, as well as liquefaction and export of gas. The document foresees a join study project data in order to determine the level of interest in future participation in exploration and development of hydrocarbon fields in the region.

Alexander Medvedev also met with Venezuela’s Foreign Affairs Minister Nicolas Maduro. The two men discussed matters relating to current cooperation and agreed to maintain their strategic partnership in Venezuela and third countries.