PDVSA Petróleos de Venezuela : and Pequiven sign agreements on new petrochemical projects

El Tigre.- Petróleos de Venezuela, S.A .(PDVSA) through its gas affiliate PDVSA Gas, signed a cooperation agreement with Petroquímica de Venezuela, S.A. (Pequiven) under the People's Ministry of Petroleum and Mining, to support new petrochemical projects with the joint ventures Fertinitro, Metor and Supermetanol.

The ceremony was led by Vice President of the Bolivarian Republic of Venezuela Aristóbulo Istúriz, People's Minister of Petroleum and Mining and President of PDVSA Eulogio Del Pino; People's Minister of Industry and Commerce Miguel Pérez Abad, and PDVSA officials at the Hugo Chávez Orinoco Oil Belt.

The agreement was signed by President of PDVSA Gas Anton Castillo, President of Pequiven Juancarlo Depablos, and Jorge Luis Perdomo, representative of the joint ventures Fertinitro, Metor and Supermetanol.

Minister Del Pino said that 'this agreement will reduce gas burning. The gas will be sent to Jose petrochemical complex to increase production. This will generate products for export that will bring foreign currency to the country'.

Cooperation between PDVSA Gas and Pequiven includes collection, handling and delivery of gaseous hydrocarbons from existing reservoirs and future ones from the state of
Monagas.

These agreements are part of the Hydrocarbons Driver of the Bolivarian Economic Agenda, promoted by President of the Bolivarian Republic of Venezuela Nicolás Maduro, to overcome the oil rentier model.