February 25, 2005
Petrobras and PDVSA to start joint exploration early 2006

(BNamericas.com) - "Brazil's federal energy company Petrobras and Venezuela's state oil company PDVSA plan to start joint oil and gas exploration operations in early 2006, O Globo news service quoted Petrobras international affairs director Nestor Cervero as saying.

The two companies will create a workgroup to appraise operations over the next three months. The companies are looking at four exploratory areas in Venezuela (...) The two companies signed several memorandums of understanding on February 14, one of them for the joint exploration for oil and gas in Venezuela".