OREANDA-NEWS. Specialists of the Belarusian oil company Belorusneft that work for the joint venture Petrolera Bielovenezolana have discovered a new oil deposit in Venezuela, the press service of the Belarusian company told BelTA.

The development of well No. 1624 at block 2 Lagunillas resulted in pure oil flow to the surface as large as 1,400 barrels per day. To compare: the average daily output of one well at Lake Maracaibo does not exceed 75 barrels.

Work on the well began in late April, with the bulk of the efforts focused on exploring the already known deposit at horizon B5. At the same time the Belarusian specialists justified the need to make the well deeper using an exploring shaft on the basis of seismic data about underlying layers. By drilling outside the explored area the team tapped into two oil-producing formations C4 and C7, thus discovering previously unknown deposits of hydrocarbons at block 2 Lagunillas.

The joint venture Petrolera Bielovenezolana was created in December 2007. The Belarusian share in the joint venture stands at 40%. The joint venture employs 50 Belarusian specialists. Apart from extraction they take care of major repairs of oil wells and perform other services for the sake of developing the deposits and increasing oil recovery. The joint venture has set up a division for new technologies and innovations. The division is focused on introducing the technologies developed by the research and design institute of the Belarusian company Belorusneft. In 2013 the joint venture Petrolera Bielovenezolana extracted 1.078 million tonnes of oil and over 840 million m3 of natural gas.