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Russia's Gazprom to Help Venezuela's PDVSA

Petroleos de Venezuela SA, state oil and gas company

Russia's Gazprom to Help Venezuela's PDVSA

Petroleos de Venezuela SA, state oil and gas company, said Russia's gas giant Gazprom will help Venezuela work out a plan to develop its gas industry over the next half century.

The two companies will develop a plan of the gas sector for the next 50 years, a strategy which includes the development of the internal market as well as the process of regional interconnection.

A team of 100 Venezuelan and Russian technicians should complete the study project within a year, according to statement. The team is expected to log more than 300,000 man hours. The agreement was signed by Petroleos and Gazprom, Russia's state- controlled gas monopoly.

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