Belarus eyes self-sufficiency via Iran, Venezuela oil deposits

Belarus planned to produce 9.3 million tons of crude oil in Iran over the next 10 years, RIA Novosti news agency reported Wednesday.

The Belarus-Iraninan joint venture, Belpars Petroleum Co. Ltd, will develop oil reserves in Jufeir and build its infrastructure, according to a document entitled Belarus' Strategy of Development of Energy Potential.

The joint venture also plans to extract about 1.3 million tons of oil by the fourth year after it starts production in 2013. The volume of the reserve provides 10 years of stable production, according to the paper.

Belpars Petroleum was created by Belarus company Belorusneft and National Iranian Oil Company in 2007.

In addition, Belarus plans to extract 7.5 to 11.6 million tons of oil per year in Venezuela.

In 2009, Belarus bought 21.5 million tons of oil from Russia. Belarus consumes 7 to 8 million tons of oil for its internal needs and re-exports the rest.


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