BELARUS NEWS AND ANALYSIS

DATE:

10/12/2007

Venezuela, Belarus to operate other three oilfields

As Venezuela-Belarus joint venture Guara East (eastern Anzoategui state) has kicked off operations, the two countries have plans to start exploiting other three mature oilfields in east Venezuela under their joint venture.

The announcement was made by Minister of Energy and Petroleum Rafael Ramirez, who reminded that Belarus state oil firm Belorusneft has an extensive expertise in mature oilfields.

The Pdvsa-Belorusneft joint venture -recently passed by the National Assembly- was originally organized to operate Guara East oilfields (eastern Anzoategui state) and Block 10 of Lago Medio (northwestern Zulia state) with an expected maximum production of 18,000 bpd, which is 8,000 bpd the average daily output.

Ramirez explained that if the other three mature oilfields under assessment are included, production could reach 25,000 bpd in the middle term.

Last Saturday, Belarus and Venezuelan presidents Alexander Lukashenko and Hugo Chavez, respectively, presided over a ceremony at Guara East oilfield. They initialed some 10 cooperation agreements. Ramirez, however, said other 10 instruments are still pending for signature in the next few months.

Source:

http://english.eluniversal.com/2007/12/10/en_eco_art_venezuela,-belarus-t_10A1255073.shtml

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