Venezuela and Malaysia signed six cooperation agreements, including some that allow Malaysian firm Petronas to explore for oil in the Orinoco region, as Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi wrapped up his visit here.

The state-owned firm Petroleos de Venezuela (PDVSA) and Petroliam Nasional Berhad (Petronas) signed an agreement on evaluating exploration plans, technical services, refining, and certification of reserves and products.

Malaysia produces more than 40 percent of the palm oil the world consumes, and it plays a big role in producing food, chemicals and biodiesel -- sectors in which Chavez has said Venezuela has a great interest.