OREANDA-NEWS. December 9, 2008. Production Association Belorusneft and the private Iranian company Sepanta International signed an agreement on cooperation in the area of services, scientific and geophysical accompaniment to the oil well-boring in Iran. The document was signed during a three-day visit of the delegation of the Iranian company to Gomel.

Sepanta International has become Belarus’ third partner in Iran. In September 2007, Belorusneft and the National Iranian Oil Company (NIOC) signed a service contract for developing the Jofeir oil field. The Belarus-Iran joint venture Belpars Petroleum Company Ltd (BPC) was set up then. Jofeir production testing is scheduled for H1 2009. Not long ago an agreement was reached to start developing new layer Fahilan in Azagedan oil field.

Besides, in summer 2008 Gomel hosted a signing of the memorandum of understanding with the Petroiran Development Company (PEDCO). The negotiations touched upon the major issues of developing the Jofeir oil field including geological, economic and juridical aspects of the project. The Belorusneft authorities approved their readiness to discuss the issues of cooperation with PEDCO in the development of new oil fields in Iran, Venezuela, Russia and Iraq, cooperation in well-boring and maintenance.

Founded in 1966, Production Association Belorusneft is part of Belarusian petrochemical concern Belneftekhim. It prospects and develops oil fields, drills wells, extracts oil and associated petroleum gas. The association includes Belarusian Gas Processing Plant and oil industry research institute BelNIPIneft, 410 petrol refuelling stations and 90 gas refuelling ones, which number rises every year.