BELARUS NEWS AND ANALYSIS

DATE:

08/02/2007

Belarus, Iran to work on oil exploration

MINSK, Belarus, Feb. 8 Belarus and Iran plan to work together in prospecting and extracting oil in Iran, Iran's envoy to Minks has said.

Our countries have reached an understanding that we can cooperate in the area of oil prospecting and extraction, among other things, said Ambassador Abdol-Hamid Fekri. "I mean your country will be using its own technical and engineering capabilities and will be prospecting and extracting black gold in Iran. It is very important for Belarus's energy security. We know that your country's policies are aimed at diversifying your capabilities in this area. All work will be done within the framework of contracts signed between the two countries.The comments were reported by Belarusian TV Wednesday.

Iran, which is the world's second-largest oil producer, holds 10 percent of the world's proven, conventional reserves, according to the Energy Information Administration. It's currently the focus of U.S.-led attention because of its nuclear program, which Washington says is to make weapons. Tehran maintains its program is peaceful.

Because of international sanctions, however, it does not have enough money to modernize its oil infrastructure.

Washington has called Belarus Europe's last dictatorship.

Source:

http://www.earthtimes.org/articles/show/28695.html