Algeria, Venezuela discussing oil, other energy projects

Chemical News: Algeria, Venezuela discussing oil, other energy projects

https://www.chemnet.com Oct 24,2007 Platts
Algeria and Venezuela are discussing oil, energy and other new cooperation projects, Venezuelan government officials said Tuesday.

Venezuela's Energy and Oil Ministry said state oil company PDVSA President Rafael Ramirez and his Algerian counterpart, Chakib Khelil, will announce a host of new bi-national projects on Wednesday.

The idea is that both countries become "world powers in terms of energy," Foreign Minister Nicolas Maduro, who is hosting the visiting Algerian delegation in Caracas this week, was quoted as saying in a statement.

PDVSA officials told Platts they would like to acquire offshore knowledge from Algeria's state oil company Sonatrach. PDVSA has vowed to realize the full potential of offshore oil and gas deposits by the year 2012; however, the company's know-how is mostly with onshore prospects.

Specifically, PDVSA has said it would like to develop one gas-rich block of the Deltana Platform and at least four blocks around Margarita Island in Nueva Esparta state with a fellow national oil company from an ideologically-aligned country.

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