Russian oil firm Lukoil is interested in keeping exploration projects in Orinoco oil belt, eastern Venezuela, under the new terms the Venezuelan government has imposed on foreign firms, said Lukoil Vice-President Andrei Kuzyaev.

"We want a stake in a new Project," Kuzyaev told reporters on the eve of Venezuelan President Hugo Chávez' arrival in Moscow for an official visit focused on weapons purchase and energy agreements, AFP reported.

The Lukoil official in charge of the firm's foreign investments was replying to questions on whether his company could replace US firms Exxon Mobil and ConocoPhilips.

Both US corporations rejected the Venezuelan government's proposal to continue operations in the country under joint ventures where the Venezuelan State is holding a majority stake.

Lukoil has an exploration agreement for Junín Block in Orinoco oil belt, Kuzyaev reminded.