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PDVSA offers Russian Rosneft to buy stake in Venezuelan field

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PDVSA offers Russian Rosneft to buy stake in Venezuelan field

PDVSA, the Venezuelan state-owned oil and natural gas company, has offered Rosneft to acquire a 10% stake in one of the fields of Venezuela, Rambler News reports on Friday.

The matter concerns Petropiar enterprise for the extraction of extra-heavy crude oil near the Orinoco River.

According to Reuters news agency, this indicates to a difficult economic situation in the country and Moscow's success at the same time. 70% of the enterprise’s shares owned by PDVSA, 30% belong to American oil corporation Chevron. The enterprise includes a field and an extraction unit with a capacity of 210 thousand barrels per day.

Two sources told Reuters that the proposal is part of a larger package of proposals for Rosneft, what is connected with the fact that PDVSA needs money to pay off debts to suppliers and redeem bonds.

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