The Opec member state-led oil producer said the money from Gazprombank will go to help develop the mature Lagunillas Tierra and Bachaquero Tierra fields in the western state of Zulia.
The two companies last year signed an agreement to create the joint venture, which reported average production of 65,100 barrels per day according to PDVSA.
A Venezuela delegation led by president Nicolas Maduro signed a total of five energy agreements in a visit to Moscow this week.
The
