The area comprises the Menegrande, Barua Motatan and Quiriquire fields, which currently produce a combined total of about 50,000 barrels of oil per day, PDVSA said on Friday.
The investment deal, which has been in the works for months, aims to boost production by up to 60,000 barrels per day.
The latest agreement brings PDVSA's joint-venture loans to $9.97 billion: $4.1 billion for the Sinovensa JV with the China National Petroleum Corporation (CNPC) and $2 billion for the Petroboscan project with Chevron, the Venezuela player said.
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