Belarus produces 1.1 mm tonnes of oil in Venezuela in 2012
In 2012 the Belarusian-Venezuelan joint venture Petrolera Belovenesolana produced 1.1 million tonnes of oil and 790 million cubic meters of gas, it was learnt from the press service of the Belorusneft production association.
For comparison: in 2011, the company produced 1.08 million tonnes of oil and about 800 million cubic meters of gas. In 2008-2009 the joint venture explored two fields, one each in the west and the east of Venezuela. In 2010-2011, the joint venture was given another five oil assets. It also operates six gas fields.
The mining project in Venezuela is one of the priorities projects for Belorusneft. The project is viable as the level of the remaining recoverable reserves is twice as high as in the Belarusian region in terms of oil and eight times in terms of gas. By the way, in 2012 the company produced 1.66 million tonnes of oil and 213 million cubic meters of gas in Belarus.
Belarusian specialists are currently engaged in the overhaul of Venezuelan oil wells. They also provide other services at the fields. A department of new technologies and innovations has been set up at the joint company, which introduces technologies developed at BelNIPIneft, a research design institute of Belorusneft.
The Belarusian-Venezuelan company Sismica BeloVenezolana conducts seismic research.
In 2011 the parties signed foundation documents for a new joint company Servisios Petroleros BeloVenezolana.
Petrolera BeloVenezolana was founded in December 2007. The share of the Belarusian shareholder Belorusneft makes up 40%.