The total production of the Russian and Chinese oil field projects in the river Oronoko will be 900 thousand barrels per day.

Venezuelan President Hugo Chavez said that China will invest $16 billion to increase oil production in Venezuela, which is part of a strategy to reduce dependence on this Latin American country from the United States. The investment will be realized over the next three years.

Last week, Venezuela with a group of five Russian companies signed an agreement establishing a joint company that will invest $20 billion in developing oil fields in the oil field of the river Orinoco.
The total production of the Russian and Chinese oil field projects in the river Oronoko will be 900 thousand barrels per day.