According to an ILNA article, Mohammad-Ali Talebi was quoted as saying that "The two countries have set up VENIROGC joint company to undertake joint projects in third countries."
"Launching an oil refinery in Syria will be the company's first project," he explained, according to ILNA.
That same article said that Talebi added that, "Syria and Malaysia will also take part in the project."
VENIROGC also is studying the feasibility of launching crude oil storage facilities in China and Africa," he said, according to ILNA.
Iran and Venezuela signed three memorandums of understanding in the energy sector in Tehran on September 6. Based on an agreement between the two sides, Tehran will import gasoline from Caracas. Based on two other agreements, Venezuela and Iran will both invest $760 million in each other's energy sectors, ILNA noted.
Venezuela's State oil company Petroleos de Venezuela SA (PDVSA) Company will finance ten percent of the required amount for carrying out the development plan of Iran's South Pars gas field's phase 12. Tehran also pledged to invest same amount of capital in the development of Venezuelan oil field Dobokubi, according to ILNA.
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