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Within the framework of the 11th High-Level Joint Committee meeting held in Beijing last week involving three Venezuelan ministers, Venezuela and China entered into new cooperation agreements in electric power and oil, the Venezuela's Ministry of Communication and Information stated.

"An agreement for the development of 900 megawatts of oil coke-based and carbon-based electric power has been entered into. New areas set for exploration, namely Junín 10 Sur, and the development of current fields have been agreed upon," Venezuela's Oil Minister Rafael Ramírez said, AFP cited.