Gee…. They keep finding more….
Hmmm…. Another oil producing country to take over. Chavez already has a monetary collapse on his hands. Guess the old devil will have to go, heh heh.
On Monday, Russia and Venezuela signed a multimillion deal to develop the huge Junin 6 oil field in the South American nation’s Orinoco River region – a territory twice as rich as other reserves, such as Saudi Arabia’s.
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The agreement was signed by Pedro Leon, director at Venezuelan state oil company PDVSA (Petroleos de Venezuela SA), and Valery Rusakov, director at Russia’s National Oil Consortium – comprised of Rosneft, energy monopoly Gazprom, Lukoil, TNK-BP and Surgutneftegaz – at a meeting between Russian Prime Minister Vladimir Putin and Venezuela’s Energy and Oil Minister Rafael Ramirez in Moscow.
The two countries agreed to establish a joint venture to develop the oilfield, with Venezuela taking a 60% stake in the deal and Russia the remaining 40%.