CO­OP­ER­A­TION

Economy of Belarus - - FOREIGN ECONOMIC RELATIONS -

Be­larus’ trade with Venezuela to­taled $1.3 bil­lion in 2011. It was as lit­tle as $1.9 mil­lion in 2000.

Five years ago potash fer­til­iz­ers were Be­larus’ main ex­ports to Venezuela. Venezuela ex­ported to Be­larus small amounts of to­bacco, spare parts and equip­ment.

In 2007, the two coun­tries started ex­pand­ing and di­ver­si­fy­ing the bi­lat­eral trade. The work of the joint com­mis­sion for trade and eco­nomic co­op­er­a­tion con­trib­utes a lot to strength­en­ing the ties.

Belorus­neft ex­panded into Cara­cas in 2007. The Be­laru­sian-venezue­lan joint ven­ture Petrol­era Belovene­zolana was opened to pro­duce oil us­ing Venezue­lan de­posits. Bel­go­rkhim­prom opened its of­fice in Venezuela as well. The joint com­pany Petroil VB was reg­is­tered in 2010.

A num­ber of large-scale projects in trade, eco­nomic, sci-tech and other sec­tors are un­der­way in Venezuela. Be­larus is tak­ing part in Venezuela’s large-scale con­struc­tion projects, in­clud­ing the con­struc­tion of hous­ing, in­dus­trial fa­cil­i­ties and agro-towns.

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Belorus­neft and Rus­sia’s oil com­pany Zarubezh­neft are im­ple­ment­ing a pi­lot project in Gomel Oblast.

In line with the co­op­er­a­tion agree­ment, the two com­pa­nies will unite their sci­en­tific and re­source po­ten­tial to pro­duce hard to re­cover hy­dro­car­bon re­serves and in­crease oil re­cov­ery at Be­laru­sian oil fields. A ther­mal gas pres­sure tech­nol­ogy is to be tested at the Visha oil field in Gomel Oblast.

The two com­pa­nies plan to share the best prac­tices in lab­o­ra­tory re­search. In par­tic­u­lar, the spe­cial­ists of the sci­en­tific di­vi­sion of Belorus­neft will have a sec­ond­ment at the Vni­ineft in­sti­tute of Rus­sia. The Rus­sians are in­ter­ested in the Be­laru­sian re­search of poly­meric ma­te­ri­als and other ma­te­ri­als en­hanc­ing oil re­cov­ery.

Other oil com­pa­nies might join the projects of Belorus­neft and Zarubezh­neft. One of them is a com­pany from Kaza­khstan.

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