Russia, Venezuela Sign Agreements On Oil Cooperation

Russian President Dmitry Medvedev and visiting Venezuelan President Hugo Chavez on Tuesday signed four oil cooperation agreements between the two countries. The deals between Russian oil companies and Venezuela's state oil and gas company agree on a joint study of the Ayacucho-2 area in the Orinoco oil belt in Venezuela and are aimed at boosting the energy cooperation between the two countries. After signing the deals, Medvedev said the talks between the two countries would give 'another powerful impetus' to bilateral relations and added that Russia-Venezuela cooperation contributes to global energy and regional security as well. Chavez also welcomed the talks and described them as an excellent opportunity to promote and improve the relations between the two countries and to 'open up new horizons'.