Belarus ready to start new projects in Venezuela – Deputy PM

Belarus may launch new projects in Venezuela and successfully deliver the previous ones, Deputy Prime Minister Uladzimir Syamashka told state-run TV station Belarus 1.

It is noteworthy that the unfinished projects are issues for the sides.

First and foremost, Belarus is interested in increasing oil production in Venezuela to 2-3 million tonnes per year. According to Syamashka, a lot of oil remains undeveloped in Venezuela.

Alyaksandr Lukashenka meeting with Nicolas Maduro 

“We were producing about 1.2 million tonnes of oil some three or four years ago. Unfortunately, now we have lower volumes. We will have about 830.000-840.000 tonnes <…> We are ready to increase the volumes up to 2-3 million tonnes per year on the used wells, but with respect to our interests,” state-run news agency BelTA quotes the deputy prime minister.

At the same time, Belarus would like to develop new oil deposits itself and hopes for further participation in the Venezuelan housing construction program, he added.

Over the past years, Venezuela has been undergoing a deep social and political crisis; the country is financially squeezed as well.