Venezuela, Russia drill first gas well

Venezuela, Russia drill first gas well

CARACAS, Nov. 7 (Xinhua) -- Venezuela and Russia Friday began drilling the first gas well in the Gulf of Venezuela, an area abound with natural gas resources.

Venezuelan President Hugo Chavez told national radio and TV chain that "as we launched one week ago the first satellite of Venezuela, now we drill the first gas well in our Gulf."

Venezuelan state-owned oil company PDVSA and Russian Gazprom jointly launched the project called Rafael Urdaneta near the state of Falcon, on the west coast of Venezuela.

Chavez said it is a historical event in Venezuela, "because we were liberated from the neo-colonial model. Here we are with our Russian, U.S. and Canadian friends with the technology."

"Venezuela is now free with allies like Russia... We will be together for ever," Chavez said during his speech.

Urdaneta field has three wells: Urumau I and Urumau II, which will be exploited by PDVSA and Gazprom. Field Cardozo will be exploited by the U.S. Chevron and PDVSA.

Chavez proposed that Russia should build a gas pipeline of 50 km for the people and industries in Paraguana in Falcon, northwest from the gas field.

The yearly investment for the project Rafael Urdaneta will be 6million U.S. dollars.

Russian Deputy Prime Minister Igor Sechin congratulated Chavez as well as PDVSA and Gazprom officials, expressing thanks to the president for his efforts to help realize this project.

Sechin said that the joint project marks the beginning of a great undertaking.