MOSCOW – Prime Minister Vladimir Putin said Tuesday he was ready to promote an “energy alliance” of global oil giants Russia and Venezuela, and confirmed his willingness to study Caracas’ requests for additional arms purchases.

Putin told Venezuelan Energy Minister Rafael Ramirez that Russia will employ “the most modern equipment and technologies” to carry out plans for cooperation with Venezuela in the oil and gas sector.

During the meeting at the Black Sea resort of Sochi, Putin reaffirmed his intention to diversify economic ties, but said that at this moment “energy cooperation is the engine of bilateral relations.”

Specifically, he thanked the Caracas government for the chance offered Russian oil companies to extract crude in the Orinoco Belt, Venezuela’s next oil frontier.

He also stressed the importance of the project to create a Russian-Venezuelan bank to finance joint investments, including in third countries, particularly in the energy field.

Ramirez, received by Putin at the request of leftist Venezuelan President Hugo Chavez to finalize some bilateral projects, spoke of the full agenda of negotiations he has this week in Russia.

“We foresee a great number of meetings and consultations, and I’m sure we’ll be able to develop the most advantageous energy alliance possible,” he said, according to Russia’s Interfax news agency.

He underscored the importance of the meeting of the bilateral cooperation commission that will take place in St. Petersburg later this week, which is to be chaired by Russian Deputy Premier Igor Sechin and Venezuelan Vice President Ramon Carrizales.

Ramirez said that as part of this visit, Carrizales will meet with the directors of the five Russian companies that make up the consortium created to work in Venezuela: Rosneft, Gazprom, Lukoil, Surgutneftegaz and TNK-BP.

Meanwhile, Putin appeared pleased by the growing military cooperation with Venezuela, which in recent years has become an important client of Russia’s armament industry, and confirmed his readiness to study new arms orders.

“Our contacts in the field of military and technical cooperation are developing and we’re ready to study the proposals and requests of our Venezuelan partners in that sphere,” said the former Russian president, who during his eight years as head of state promoted ties with Chavez-led Venezuela.

Chavez said last week that his government was negotiating a “significant” arms purchase with Russia and that he expected the deal to be signed by mid-September.

“There will be a series of agreements, not just on weapons, but ... (part of the package will be) a significant arms accord to increase our operating capacity, improve our defense systems, our anti-aircraft defense, etc.,” the president told foreign correspondents in Caracas.

Chavez has negotiated other significant weapons deals with Russia during his 10 years in office, including purchases of 24 Su-30 fighter jets, 50 helicopters and 100,000 assault rifles at a total cost of more than $3 billion, according to Russian sources.

The president said tanks will be high on Venezuela’s list of priorities in the upcoming weapons purchases.

“We need tanks; the army is going to keep growing,” Chavez said. “I’m going there (to Russia) to wrap up (the deals).”

“Sooner rather than later that materiel will be arriving,” the president said, adding that, though there is no estimate yet on the final cost, “the important thing is that Russia is offering us payment and credit facilities.”

“I’d rather not spend one cent on weapons,” but Colombia’s apparent willingness to let U.S. troops use its military bases forces us to, he said, noting that it was Washington’s refusal to sell spare parts for F-16 aircraft acquired by Caracas in the 1980s that prompted his country to look elsewhere for arms purchases.

The Venezuelan also discussed a telephone conversation in which he asked Putin to receive Ramirez and Carrizales

“‘Thank God,’ I told Putin. ‘We’re extremely grateful because if it weren’t for Russia we’d be almost fully disarmed!’” Chavez recounted to reporters.

Chavez also said he brought Putin up to date “on the threat” that Venezuela and other South American countries face from Colombia’s decision to grant the U.S. military access to seven military bases.

Colombia’s Foreign Ministry says the base deal will “fortify the fight against drug-trafficking, terrorism and other crimes,” but Chavez says the bases could serve as a platform for attacking Venezuela.

The governments of Ecuador, Bolivia, Argentina, Brazil and Chile have also voiced concern over an increased U.S. military presence in the region.