Venezuelan President Hugo Chávez announced Sunday that the government will purchase 106 oil drills through agreements signed with the People’s Republic of China. This is in addition to the 126 oil drills already owned by the South American nation.

The announcement came during a speech in Caracas to commemorate the 191st anniversary of the Battle of Carabobo, a key moment in the struggle for Venezuelan independence, which coincides with Armed Forces Day.

Strategic alliances with other countries reinforce the country’s scientific and technical cooperation, President Chávez said.

The purchase of these new oil drills is part of several measures developed by the Venezuelan government to strengthen the national oil industry.

AVN / Press Office – Venezuelan Embassy to the U.S. / June 25, 2012