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Iran, Venezuela to boost oil, gas cooperation

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Iranian President Mahmoud Ahmadinejad and his Venezuelan counterpart Hugo Chavez agreed to boost cooperation in the oil and gas sphere during talks in Tehran, Iran's Press TV reported.

Iranian President Mahmoud Ahmadinejad and his Venezuelan counterpart Hugo Chavez agreed to boost cooperation in the oil and gas sphere during talks in Tehran, Iran's Press TV reported.

The two leaders signed 11 agreements during Chavez's two-day visit to the Iranian capital, which finished on Thursday.

During the talks, the parties discussed the participation of the Petroleos de Venezuela SA (PdVSA) state-run petroleum company in the development of Iran's South Pars gas field. The field is the largest deposit in the Persian Gulf, with estimated reserves of 14 trillion cubic meters of gas.

The two countries also agreed to establish a joint tanker ship construction company and jointly build petrochemical plants.

Chavez is one of Ahmadinejad's main allies in Latin America, with the two leaders publicly calling each other "brothers" and criticizing U.S. foreign policy.

Chavez is in Iran as part of a world tour, which also includes Russia, Belarus and Ukraine. The Venezuelan president signed a number of deals with the Russian leadership during his visit earlier this month on issues such as energy cooperation and arms deliveries.

 

MOSCOW, October 21 (RIA Novosti)

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