• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 9 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 8 hours California's Oil Industry Collapses Despite Shale Boom
  • 12 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 6 hours Greenpeace Blocks BP HQ
  • 12 mins Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 17 hours The Consequences: Full-Blown Trade War Will Push World Towards Recession
  • 14 hours Australian Voters Reject 'Climate Change' Politicians
  • 3 hours Shale to be profitable in 2019!!!
  • 20 hours Global Warming Making The Rich Richer
  • 16 hours IMO2020 To scrub or not to scrub
  • 12 hours UK Needs New Wind Turbines
  • 11 hours Will Canada drop Liberals, vote in Conservatives?
  • 3 hours DUG Rockies: Plenty Of Promise, Despite The Politics
  • 18 hours Did Saudi Arabia pull a "Jussie Smollett" and fake an attack on themselves to justify indiscriminate bombing on Yemen city population ?
  • 20 hours California Threatens Ban on ICE Cars
  • 22 hours Shell ‘to have commercial wind farms’ by early 2020s

Belarusian-Venezuelan Company Will Increase Oil Production in 2012

Joint venture Belarusian-Venezuelan Petrolera BeloVenezolana company is stating that it will increase oil production in 2012.

Petrolera BeloVenezolana was established in 2007.

Belarusian state oil company Belarusnafta, which holds a 40 percent share in Petrolera BeloVenezolana, stated that the company is hoping to increase its annual production to 1.5 million tons of oil in 2012, Minsk’s Belaruskaia Infarmatsyinaia Kampaniia Belapan news agency reported.

Petrolera BeloVenezolana intends to increase its current output of 1 million tons due to its receiving two more oil deposit concessions in the area of Venezuela’s Lake Maracaibo, which will bring the total number of oil deposits under the control of Petrolera BeloVenezolana to nine.

The new concession agreement was reportedly signed earlier this month after a Belarusian delegation headed by presidential aide Viktar Sheyman visited Venezuela to take part in a meeting of the Belarusian-Venezuelan High-Level Commission in the capital Caracas.

Following the signing of the agreement Venezuelan President Hugo Chavez said, "We have come a long way with Belarus in just two years. We are developing various fields and the joint venture Petrolera BieloVenezolana is now producing about 20,000 barrels of oil per day. With our agreement we will expand operations to other fields in the east and west and increase production to 30,000 barrels per day."

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News