Russia's Deputy Premier Igor Sechin and Venezuelan Oil and Energy Minister Rafael Ramirez discussed issues of oil cooperation and export of Russian cars to Venezuela.

The high-ranking officials met for talks on Sunday in Moscow, have agreed on export of Russian cars and discussed the work of a Russian oil consortium.

During visit by Venezuelan President Hugo Chavez to Moscow in September 2009, his country's state oil and gas company PdVSA and the Russian consortium, NNK, signed a memorandum of understanding.

NNK, or the National Oil Consortium, consists of Rosneft, energy giant Gazprom, Lukoil, TNK-BP and Surgutneftegaz. Last September Venezuela and NNK agreed to invest $20 billion into the development of the Junin 6 oil deposit in the Orinoco River Basin.

Venezuela is one of the largest oil producing countries in the world, with about 87 billion barrels of proven conventional oil reserves as of 2008. In addition, it has a huge non-conventional oil deposits (heavy crude). Most of these deposits are located in the Orinoco oil belt.

MOSCOW, January 31 (RIA Novosti)