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Venezuela and South Africa to sign energy agreement
CARACAS
Petroleumworld.com, Aug 26, 2008President Hugo Chávez is expected to sign a energy agreement with South Africa next week. The deal would pave the way for South African state-owned oil company PetroSA to acquire an oil asset in Venezuela.
PetroSA has held high-level discussion with its counterpart, Venezuelan state-owned oil company Petróleos de Venezuela (Pdvsa) on projects, including oil exploration and the production of heavy crude oil in the Orinoco Oil Belt, Reuters reported.
Everton September, vice president of PetroSA's new ventures unit, told Reuters on Monday that Chávez signature was required to formalize a memorandum of understanding.
The South African official said that the deal with Latin America's biggest oil company may be worth hundred of millions of dollars.
Story from El Universal
El Universal 25 08 08Copyright© 2008 respective author or news agency. All rights reserved.
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