Petrovictoria will extract crude from the Carabobo 2 North and Carabobo 4 West in the Orinoco oil belt, with a refinery also forseen, PDVSA said in a statement.
The company aims to pump 120,000 barrels per day of heavy crude by 2017, with the goal to eventually ramp up to 400,000 bpd.
Venenzuelan energy minister and PDVSA president Rafael Ramirez and Rosneft president Igor Sechin met on the issue in Barcelona, Venezuela on Thursday as the country continues to mourn the death of leader Hugo Chavez from cancer earlier this year.
According
