Diversified hydrocarbon supplies prove useful

Venezuelan oil projects generate $52m for budget over two years

“Venezuelan projects are yielding real financial benefits, with $52m arriving in the Belarusian budget over the last two years,” notes Belorusneft Production Association’s Director General, Alexander Lyakhov.

“Undoubtedly, the results achieved by Belorusneft in implementing foreign projects have been possible due to an active foreign policy and state support,” he underlines. Mr. Lyakhov explains that, in December 2007, a joint oil extracting venture was launched in the Bolivarian Republic of Venezuela, following the two presidents’ agreement. In 2011, the joint enterprise plans to extract 1m tonnes of oil and 600m cubic metres of gas. In future, Belorusneft plans to extract oil and gas in Venezuela, while setting up a joint company to drill and repair wells. Moreover, the joint seismological enterprise should increase its supplies of Belarus-made geological survey and drilling equipment to Venezuela.

Belorusneft’s work in Venezuela greatly contributes to Venezuelan oil supplies being made to Belarusian oil refineries. “In this way, diversification of hydrocarbon supplies has been achieved — a key factor for any state’s energy security,” underlines Mr. Lyakhov.

In November, Mozyr Oil Refinery saw its first oil supplies arrive via the Odessa-Brody pipeline. “Various countries have tried to bring this project to life over the past ten years, yet their efforts have been in vain. It has only come into operation with Belarus’ participation. An alternative pipeline route has been created,” notes Belorusneft’s Director General.

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