(El Universal) - "State-run oil holding Petróleos de Venezuela (Pdvsa) and French Beicip-Franlab, a subsidiary of the French Petroleum Institute (IFP) have entered into two letters of intent.

The instruments lay the foundations for a strategic alliance on technology development and transfer in prospecting and production.

Pdvsa Exploration and Production Vice-President Luis Vierma and Jean Burrus, the head of Beicip-Franlab, executed the cooperation agreements, Pdvsa reported in a press release.

The first letter of intent ensures Pdvsa an active part in final development of Temis Plus, a technology related to computer programs centered on exploration. It also provides for training of Pdvsa engineers and know-how.

The second letter of intent paves the way for a strategic alliance. As a result, Pdvsa will join the development of FIRST, a programming technology property of Beicip-Franlab, needed for comprehensive studies of oil deposits".