Belarushafta to put $20,000 into a joint venture with Venezuela

The Belarusian oil company, Belnafta will put $20,000 into the Belarusian-Venezuelan joint venture SeismoVenBel under the resolution of the Belarus government, official sources report. Thus, the share of Belarus in the joint venture to be established in Venezuela for drilling oil, will reach 40 percent.

The joint venture will be established between Belarusnafta and Venezuela's national oil company PDVSA

The joint venture is expected to begin operation already this year. A team of Belarusian geologists are already in Venezuela to explore oil reserves.