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Tuesday, April 07, 2009

Venezuela secures $33.5 bln investments from Japan

Source: Today (MediaCorp)
Venezuela secures $33.5 bln investments from Japan
Time is GMT + 8 hours
Posted: 8-Apr-2009 00:10 hrs
Venezuelan Pesident Hugo Chavez speaks at a press conference in Tokyo hotel. Chavez Tuesday said he secured 33.5 billion dollars in Japanese oil and gas project investments.
Venezuelan President Hugo Chavez Tuesday said he secured 33.5 billion dollars in Japanese oil and gas project investments.
. The two countries plan to cooperate in 12 projects including in the Orinoco Belt, a hydrocarbon reservoir located in eastern Venezuela.
. "Japan needs oil. Venezuela wants to diversify its market. Japan is ideal for us," Chavez told reporters in Tokyo.
. The 33.5 billion investment from Japanese companies will include 8.0 billion dollars over the next five years in a block of the Orinoco Belt, said Chavez.
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