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Russia, Venezuela edge closer to oil deal, talk arms
Published in Saudi Press Agency on 15 - 08 - 2009

Russia and Venezuela on
Saturday moved closer to an oil venture deal and discussed arms
trade, forging a partnership that may drag Russia into a row
over the U.S. military presence in Colombia, Reuters reported.
Venezuela's President Hugo Chavez, due in Russia in
September, said last week he was prepared to buy dozens of
Russian tanks to counter the U.S. intention to increase a
military presence in Colombia.
"The president of Venezuela is one of the leading
international policy makers. He is a very strong personality and
a big friend of Russia," said Russia's Deputy Prime Minister
Igor Sechin.
"I know from experience if he said something he will
definitely do it," Sechin told a news conference after talks
with Venezuelan Vice President Ramon Carrizalez when asked
whether Russia would sell tanks to Venezuela.
Sechin said military cooperation with Venezuela will help
Russia's struggling military industrial complex cope with the
economic crisis but declined to comment further on the tank deal
saying it was for presidents to work it out.
Colombia's government is expected to sign a deal this month
giving U.S. forces increased access to military bases in order
to fight the cocaine trade and Marxist insurgents. Chavez has
blasted the plan as a threat to regional stability.
"We as a sovereign state must protect our people and in that
sense we can make arms purchases that we deem necessary,"
Carrizalez said. "These bases without doubt create a threat for
all Latin American countries.
Russia, the world's second largest oil exporter, wants to
revive Latin American ties cultivated during the Soviet era.
Sechin's recent Latin American tour included traditional Soviet
allies Cuba and Nicaragua.
Russia and Venezuela are expected next month to present a
joint venture that aims to develop the Junin 6 block in the
Orinoco oil belt, which Venezuela says has the world's largest
hydrocarbon reserves.
Sechin said Venezuela's state oil company PDVSA and a
consortium of Russian firms will need to jointly invest $30
billion in Venezuela's Junin 6 oil field.
"The venture with PDVSA may become a leader in oil
production in Venezuela," Sechin said, adding that Ayacucho 2
and Junin 3 blocks, controlled by PDVSA ventures with TNK-BP and
LUKOIL could also be included in the joint venture.
Sechin said reserves in the Junin 6 oil block are estimated
at 53 billion barrels, potentially making it the biggest Russian
oil exploration project abroad, and will last for at least 40
years.
The Russian consortium includes Rosneft , Gazprom
, LUKOIL , TNK-BP and
Surgutneftegaz . It also intends to bid for blocks in
the Carabobo Project.


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