Sonangol said in a statement the three companies would form a new company to exploit Venezuela's Migas and Melones Oeste fields in the state of Anzoatequi.
The new company's initial production is expected to reach 20,000 barrels of oil per day and have total production of 94 million barrels in five years, Sonangol said.
Venezuela's PDVSA will have a 60 percent stake in the new company while Sonangol and Cupet will own 20 percent each.
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defenceWeb flies high aboard the A400M
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Mobile Communications Test Facility built at AFB Overberg
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Imperial Armour is attending IFSEC
31 May 2013 - Imperial Armour is recognised and supported by industry as a one-stop manufacturing company, who supply military, police, fire, emergency services, demining, EOD and marines to over 78 countries worldwide.