According to this agreement both countries will cooperate in the areas of energy exploitation and exploration and in joint ventures involving petrochemical and hydroelectric development as well as hydrocarbons, mining, agriculture, infrastructure, science and technology.

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Since its inception in 1953, Buenaventura has focused on exploration and exploitation activities both by its own and through joint ventures.

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It will be a joint venture between the European Space Agency (Esa) and the European Organisation for the Exploitation of Meteorological Satellites (Eumetsat).

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