OREANDA-NEWS. February 19, 2008.  President of the Bolivarian Republic of Venezuela Hugo Chavez has announced that Belarus will be assigned three more oil deposits what will enable it to produce two million tonnes of oil in 2009. The agreement was reached during a meeting of the Venezuelan leader with Viktor Sheiman, State Secretary of the Security Council of Belarus, co-chairman of the Belarusian-Venezuelan joint high-level commission, who is in Venezuela on an official visit.

During a visit of a Belarusian delegation headed by Viktor Sheiman to Venezuela, the sides signed agreements on setting up joint venture to produce MAZ, MTZ and BelAZ vehicles and also a joint venture to drill and service oil wells. Venezuela has appointed its representatives to the directorate of the joint ventures and has started transferring funds to the authorised funds of these companies.