March 7, 2005
Foreign companies to invest more than US$10bn in oil and natural-gas projects
(The Economist Intelligence Unit - Business Latin America) - "Foreign companies plan to invest more than US$10bn in oil and natural-gas development projects within the next five years. According to Venezuela's state oil company, Petróleos de Venezuela (PDVSA), these include ConocoPhillips (US), Lukoil (Russia) and Total (France). Also according to PDVSA, a dispute between ConocoPhillips (US) and the government over the development of the Corocoro offshore oilfield has also been settled".
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