Russia, Venezuela to invest $20 billion in Junin 6 oil field
08:04, 15 September 2009
MOSCOW. September 15. KAZINFORM Venezuela and a consortium of Russian oil companies intend to invest $20 billion into the development of the Junin 6 oil deposit in the Orinoco River Basin, the Venezuelan oil and energy minister said; Kazinform refers to RIA Novosti.
"We'll invest $20 billion in that block for upstream development, perforation and in an upgrader," Bloomberg quoted Rafael Ramirez as saying.
Ramirez added that the Russian companies have paid a bonus of $1 billion for participation in the development of the deposit that could produce 400,000-450,000 barrels of crude a day; Kazinform cites RIA Novosti.
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