Following the deal, Rosneft will increase its ownership in the project in Venezuela's Orinoco belt to 40% from its previously held 16.7%.
PDVSA owns the remaining 83.3% in the JV. The deal will reduce the company's interest to 60%.
Both the companies plan to amplify the project development by introducing new technologies and raising E&P management efficiency.
At present, Petromonagas produces and upgrades over 130 Mbbls/d of extra heavy crude.
The first export contract between Rosneft and PDVSA was signed in May 2014 .... http://www.hydrocarbons-technology.com
