China to further energy cooperation with Venezuela: FM spokesman

China is willing to further energy cooperation with Venezuela based on the mutual benefits and reciprocal principles, said Chinese Foreign Ministry (FM) spokesman Liu Jianchao Thursday.

At a regular press conference, Liu said China and Venezuela have carried out effective and fruitful cooperation in energy sector in recent years. In 1997, the China National Petroleum Corporation took part in the 3rd round international bidding for oil exploration in Venezuela. It won the bid for two blocks: Intercampo block on Maracaibo Lake and the Caracoles block in the east Venezuela basin.

So far the cooperative projects in the two blocks were smoothly carried out with good economic turnover, Liu said.