Memorandum of understanding on cooperation between the State Development Planning Committee of the People's Republic of China and the Energy and Mineral Ministry of the Republic of Venezuela Bolivar in the sphere of energy.

The two Parties encourage the China Petroleum Corp to participate in the exploration, development and investment of oil resources in Venezuela. The two Parties promote the enterprises of the two countries to carry out comprehensive cooperation in the field of petroleum and natural gas. The Chinese government encourages Chinese oil companies to participate in Venezuela petroleum engineering and technical services, such as oilfield services, ground engineering construction and petroleum material exports, etc.
The two Parties agreed to actively promote the cooperation of the enterprises of the two counties in the field of coal, electricity and new energies.