Plans: PDVSA and Ecopetrol eye joint venture in Orinoco
PDVSA and Ecopetrol eye Orinoco venture
Venezuela and Colombia are set to discuss possible joint development projects in the oil rich Orinoco belt when the presidents of both countries meet today, Colombian ambassador to Venezuela Fernando Marin said.
"The Venezuelan government has told us that it's important for them to have Colombian presence in the Orinoco belt. It's something that we're eager to talk about," Marin told Dow Jones Newswires.
He said Javier Gutierrez, the president of Colombian state-oil company Ecopetrol will meet with representatives of PDVSA, to discuss possible joint projects.
"Being there (in the Orinoco belt) for Colombia is strategically important," Marin said.
Colombia suffers from dwindling oil reserves and Ecopetrol has been examining plans for international expansion for some time, he added.
Allowing for Colombia's presence in the Orinoco belt would be a surprising gesture by Venezuela, given the recent diplomatic disputes between both countries, which escalated to threats of war in March.
Chavez has threatened on several occasions to shut imports from Colombia.