BELARUS NEWS AND ANALYSIS

DATE:

12/07/2007

Pdvsa ponders joint operation of Orinoco oilfields with Belarus

Venezuelan state run oil conglomerate Pdvsa is assessing, together with Belarusneft, the possibility to operate some five to six mature oilfields in Orinoco Oil Belt, central east Venezuela, a move that could increase oil production and reserves, as part of the Magna Reserva Project.

According to a press release, Venezuelan and Belarus delegations are meeting this week to complete cooperation accords in strategic areas. The major issues to be addressed include quantification and certification of reserves in Block Junin 1 of Orinoco Oil Belt and exploration and production of mature oilfields.

Further, negotiations are under way in connection with the Venezuelan gas plan, under which work teams have been organized to construct 1,000 kilometers of networks for transportation of household and industrial gas.

Source:

http://english.eluniversal.com/2007/07/12/en_eco_art_pdvsa-ponders-joint_12A898517.shtml