Caracas, Dec 22 (AFP) - Venezuela and China today signed several new agreements, including several oil and financial resources as a sale of 500,000 barrels of Venezuelan crude to China and a Chinese credit line by 1,000 million of dollars to Venezuelan mining projects.

The documents were signed at the close of the Eighth Joint Commission Venezuelan High Level Chinese, installed yesterday, an act which was led by Venezuelan President Hugo Chávez and Minister of the National Reform and Development of China, Zhang Ping.


"They are 29 agreements" reached at the meeting, "but signed only 15" during the official ceremony for reasons of time, Chavez said during his speech, which praised China as "a great power, but for good" because it "has shown that there is no need to attack the weak" to be.

Among the agreements reached include the energy area, as the "contract to supply 500,000 bpd of crude and products for a year" signed between the state oil company Petroleos de Venezuela SA (PDVSA) and Petro China.

According to Chinese data, Venezuela is the fourth largest oil supplier to China and its fifth largest trading partner in Latin America and the Caribbean.

Earlier this year reported that PDVSA supplied 331,000 barrels of crude to China and that he planned to raise them up "a million barrels a day within four years."

Venezuela and China also signed a framework agreement to create a joint venture refinery in the Venezuelan state of Guarico Ranger and an agreement to perform a study of quantification and certification of oil reserves in Block 3 of Boyacá Orinoco Belt.

The state-run Chinese oil company CNPC participates with companies from Argentina, Brazil, Chile, Ecuador, Spain, India and Iran in the international process of certification of reserves of the rich Orinoco Belt, estimated at a preliminary 234,000 million barrels in and extra heavy crude.

These reserves, coupled with the already confirmed 80,000 million barrels in other regions of Venezuela, place the country as the largest oil reserves in the world, with 314,000 million barrels.

Caracas and Beijing on Tuesday signed a master agreement to build and manage a joint venture production of hydrocarbons in Block Junin 8 "of the Orinoco Belt, with" the aim of producing 200,000 bpd of extra heavy crude, "according to information officer.

In addition, signed a "memorandum of understanding" to give Chinese companies' offshore drilling services in deepwater and ultra-deep "in Venezuela.

In electric field, Caracas and Beijing signed "a record commitment to promote cooperation" and "develop and build joint projects hirdroeléctricos.

In the financial area, the state-owned Corporacion Venezolana de Guayana (CVG) and the Chinese Development Bank signed an "agreement to open a credit line of $ 1,000 million, to finance mining projects in southern Venezuela.

During the high-level meeting is also to reach a deal in the area of "aquaculture fish and other developing" the third stage of the project for comprehensive rehabilitation of the irrigation system Guarico river.

It was also agreed an "agreement of cooperation for training of public officials in the planning area" between schools in both countries.

Throughout his speech, Chavez stressed the strengthening of bilateral relations, especially since coming to the Venezuelan government a decade ago.

Meanwhile, Zhang Ping spoke of "mutual cooperation results" bilateral, and stressed "the great importance" that the Chinese government attaches "to relations with Venezuela." EFE gf / pa

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