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5 December 2014

Belorusneft, Russian Zarubezhneft to work together in Latin America

GOMEL, 5 December (BelTA) – The Belarusian company Belorusneft and the Russian company Zarubezhneft have expressed their intention to participate in the implementation of joint oil industry projects in Latin America. Prospects of possible interaction between the two companies were discussed during a working visit of the Russian delegation led by OAO Zarubezhneft Director General Sergei Kudryashov to the industrial group Belorusneft, the press service of the Belarusian company told BelTA.

Cooperation between the two companies relies on the strategic partnership agreement signed in 2011. At present Belarusian and Russian specialists are working together on the Visha-Termogaz project, which is meant to test and introduce a thermal-gas formation treatment technology for deposits in the Polesie area. The method is believed to be very promising as far as ways to increase oil recovery are concerned.

Belorusneft's research center BelNIPINeft Institute and Zarubezhneft's research centers VNIIneft and the Russian interindustry R&D complex Nefteotdacha are taking part in the project.

The negotiations in Gomel also touched upon prospects of cooperation in other joint endeavors of Belarus and the Russian Federation.

The Belarusian industrial group Belorusneft was founded in 1966. The company specializes in the surveying, prospecting and development of oil fields, well drilling, oil and associated petroleum gas extraction.

Zarubezhneft was founded in 1967. Zarubezhneft specialists have helped create the national oil and gas industries of Iraq, Vietnam, Syria, Yemen, and other countries.

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