Updated at 14:58,21-10-2016

Agreement reached to give Belarusian-Venezuelan company access to three more oil deposits

18-08-2009, 10:18

Petrolera BeloVenezolana, a Belarusian-Venezuelan oil company, will be given access to three more oil deposits in Venezuela, reported Belarus’ ONT television channel.

An agreement to this effect was reached at a meeting of the High-Level Belarusian-Venezuelan Joint Commission, which was held in Minsk on Friday, the channel said.

The company formerly produced up to 9,000 barrels a day, but the production will double in 2010 and the total output may reach one million barrels by September the report said.

The meeting also yielded agreements to jointly develop gas fields and cooperate in the iron and steel industry.
"We have very good prospects," Viktar Sheyman, presidential aide for special missions who headed the Belarusian delegation to the meeting, said in an interview broadcast by ONT. "We are now about to start jointly assembling tractors and trucks in Venezuela."

According to Mr. Sheyman, Belarusian-made machinery will soon be delivered to other Latin American countries via Venezuela.
Venezuela is also interested in investment in Belarus’ "leading enterprises," he said, adding that Venezuelan partners might invest "hundreds of millions of dollars."