Iran and Venezuela Create Maritime Society, Sign 11 Energy Deals

As part of their bilateral cooperation’s, Iran and Venezuela will form a joint maritime society to strengthen the exportation and transport of oil between the two nations.

The announcement came Tuesday during Venezuelan President Hugo Chavez’s visit to Tehran where he met with Iranian President Mahmoud Ahmadinejad.

The countries bilateral cooperation included a previous memorandum of understanding that was already in place. Their relationship was further strengthened Wednesday with the signing of eleven more energy related memorandums of understanding.

Included in the deals is the agreement to form a joint shipping company for the transport of oil and to build petrochemical plants together, all projects are to be financed by the Iranian-Venezuelan bank, whose headquarters are in Tehran.

UPI reports that following Chavez’s visit Iran's state-funded broadcaster Press TV announced that Venezuelan oil company Petroleos de Venezuela SA agreed to start working in the South Par gas field in the Persian Gulf.

As part of Chavez’s international tour he also visited Ukraine, Belarus, and Russia where additional energy deals have been made. Petroleos de Venezuela reports the following on their website:

Ukraine
Chavez's visit to Ukraine was used to hold a successful meeting with the president of that country, Victor Yanukovich, which will consolidate a Latin American energy equation.

This statement was made by the Venezuelan head of state to highlight the participation of oil and gas companies in the world in the exploration of deposits of the Orinoco Oil Belt. In this sense, the Venezuelan president said the Ukrainian government's willingness to join this project as soon as possible.

"It's a great support which Ukraine will pay us, but as it is shared interests we will also contribute. We have detected the first areas of complementarity. "

Belarus
During the working visit of President Chavez in the Republic of Belarus, the governments of both countries signed a contract to supply oil during 2011, 2012 and 2013.

The close relations with the government of Belarus President Aleksandr Lukashenko, also led to the signing of a memorandum of understanding to incorporate the joint venture geographical Bielovenezolana Service, Inc. and a charter and bylaws of this joint venture, which has intended to perform drilling services, repair and overhaul of oil wells in Venezuela.

Russia
During the visit to the first nation in the tour of President of the Bolivarian Republic of Venezuela, Hugo Chávez, was signed with President of the Russian Federation, Dmitry Medvedev, an agreement forming the joint venture between PDVSA and Sovcomflot for Naval building ships for the transport of oil.

Also, both governments signed an agreement for the sale of PDVSA's participation in the Ruhr Oel refinery, an engineering procurement and construction of deep mining project Soto plant, located in Anzoategui.

On the other hand signed a contract for the optimization of the compression system of Lake Maracaibo, which is perform the engineering, procurement and construction of gas compression platforms located in the area Natural as well as a forward contract to the supply of oil during 2011, 2012 and 2013.”

Sources: UPI, Xianhu, PDVSA
Photo from PDVSA