Venezuelan President Hugo Chavez had a meeting with Japan's prime minister Taro Aso Movday in Tokyo.
After that Japan's government-backed Japan Oil, Gas and Metals National Corp., or Jogmec, and five Japanese companies signed Monday agreements with Venezuela's state oil company Petroleos de Venezuela SA, or PdVSA, on joint energy study projects.
The agreements are about feasibility studies to develop Orinoco Tar and an offshore natural gas block, said officials from the Japanese companies.
Orinoco tar is a heavy hydrocarbon similar to oil sands that is seen in abundance in Venezuela's Orinoco basin. The Japanese entities said details such as scheduling and costs have not been decided.
Earlier on Monday, Japanese Vice Minister of Economy, Trade and Industry Harufumi Mochizuki said that Japan and Venezuela have agreed to set up a task force to explore the possibility of joint development of oil and natural gas fields in the Latin American country.
On Sunday, Chavez told Venezuelan television that he will use the visit to seek Japanese investment in Venezuela, promote energy cooperation and establish a strategic alliance between the two countries, China's state-owned Xinhua news agency reported.
Japan wants to diversify its sources of energy and Venezuela wants to diversify its markets, «so we have a strong point in common," said the Venezuelan president, according to Xinhua.
Author: Ksenia Kochneva
