Belarus plans to extract 9.3 million tons of oil in Iran in 10 years, according to the strategy of developing the energy potential of the republic, published on the national legal internet portal, RIA Novosti reports.
The joint Belarus-Iranian venture ‘Belpars Petroleum Company Limited’ is participating in the Jufeyr oilfield project. Four boreholes have already been drilled and infrastructure is being established. The maximum capacity of oil extraction should be approximately 1.3 million tons annually after 4 years of development. The period of stable oil extraction will be 10 years.
The contract was signed between ‘Belarusoil’ and the National Iranian Oil Company in September 2007 in Tehran. The joint venture ‘Belpars Petroleum Company Limited’ was established in the same year.
Belarus also plans to extract 7.5-11.6 million tons of oil annually in Venezuela at the Khunin-1 block. Extraction is planned to start in 2013, with a capacity of 2.9 million tons annually within 2 years. Average annual extraction will increase to 5.8 million tons and after construction of infrastructure it will reach an optimal capacity of 11.6 million tons annually.
According to a pessimistic version, the maximum capacity will have reached 7.5 million tons annually by 2020 and will continue until 2027.
In 2009 Belarus received 21.5 million tons of oil from Russia. It consumes 7-8 million tons annually.
