OREANDA-NEWS. June 25, 2008. Belarus and Venezuela will establish a joint venture that would provide maintenance service for oil equipment. The relevant agreement was reached during the visit of the state oil company of Venezuela PDVSA to Belarus. In line with the memorandum on mutual understanding between PDVSA Servicios and Belarusneft the relevant documents have been signed.

During their visit to Belarus the Venezuelan delegation got familiar with the organization of maintenance works, technologies and equipment used in Belarus for well-boring and reconstruction of wells. They also familiarized themselves with the products of the Gomel-based company Seismotekhnika. This company is affiliated with Belarusneft and has already launched the supply of its products to Venezuela.

The next stage of the cooperation will be setting up an assembly production of vibrosources in Venezuela. A joint enterprise will be established to facilitate the implementation of this project. The relevant documents are to be signed in the nearest future.

The project will involve the participation of the specialists from another company - CJSC Fidmash. Belarusneft cooperates with this company in the area of machine building.

The Venezuelan delegation also got interested in the production of the Minsk Plant of Wheeled Carriers.

In 2008, Belarusian-Venezuelan joint venture Petrolera BeloVenesolana plans to extract up to 700 thousand tonnes of oil from deposits Guara Este and Lagomedio. After another three oil fields are added, the joint venture will be able to boost oil extraction.