BELARUS NEWS AND ANALYSIS

DATE:

14/12/2007

Venezuela-Belarus oil firm authorized

Under a presidential decree, the oil joint venture Petrolera Bielovenezolana SA was created, with a 60 percent stake owned by Venezuelan state oil firm Pdvsa's branch Venezuelan Petroleum Corporation (CVP), and the remaining 40 percent in the hands of the Association of Belorusneft Producing Companies or their respective subsidiaries.

According to presidential decree 5714, published in the Official Gazette on Thursday, the oil joint venture was organized to carry out exploration and drilling of crude oil and associated gas, gathering, transportation and storage in the areas of Guara East, eastern Anzoategui state, and in Block 10 of Lago Medio, in northwestern Zulia state.

The production ceiling is estimated at 18,000 bpd.

Source:

http://www.eluniversal.com/2007/12/14/en_eco_art_venezuela-belarus-oi_14A1262817.shtml