September 29, 2004
Iran shows interest in crude and natural gas exploration in Venezuela
(AP Worldstream) - "Iran is interested in crude and natural gas exploration in Venezuela, the Vice President of Venezuela's state oil company said.

Following a meeting with Iranian Deputy Commerce Minister Medhi Navab, Félix Rodríguez said Iran has inquired about upcoming licensing rounds for energy projects in this oil-rich South American nation.

'We touched on some topics, among those exploration and production activities,' Rodríguez told the Venpres news agency.

Since taking office in 1999, Venezuelan President Hugo Chávez has urged fellow members of the Organization of Petroleum Exporting Countries, or OPEC, to improve cooperation with more joint investment projects.

Rodríguez said his meeting with Navab 'forms part of a wider integration of nations that belong to OPEC.'

Venezuela, the world's No. 5 oil exporter, has announced plans to grant licenses for development by foreign companies in the Orinoco area (…)
There are already four heavy crude projects in the Orinoco area that produce roughly 500.000 barrel a day (…)".